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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Emaar Development PJSC    EMAARDEV   AEE001901017

EMAAR DEVELOPMENT PJSC

(EMAARDEV)
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Emaar Development : DFM rises 1.24% on MSCI upgrade at Tuesday's close

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05/28/2019 | 10:50pm EDT

The DFM’s turnover amounted to AED 461.23 million

Dubai – Mubasher:The Dubai Financial Market’s (DFM) index rose by 31.97 points, or 1.24%, to close at 2,607.01 points on Tuesday, on the back of the MSCI index upgrade which is expected to draw foreign liquidity of more than $220 million.

The goods sector topped gainers and added 7.72% after DXB Entertainments grew by 9.34% to AED 0.199.

Meanwhile, the real state sector advanced by 3.83% as Emaar Development, Emaar Malls, and Arabtec Holding increased by a range between 4% and 7%.

Emaar Malls and Emaar Development are still included in the MSCI index against expectations; however, the world’s largest index provider has removed the Dubai-based property developer DAMAC Properties from its global standard index.

Furthermore, the Dubai Financial Market Company (DFM Company) was included in the MSCI small-cap index, while Amanat Holdings was delisted from the same index.

DAMAC Properties declined by 3.2% to AED 0.842, whereas DFM Company rose by 2.2%.

The insurance sector advanced by 2.2%, while the investment sector grew by 1.61% as Dubai Investments increased by 1.61%.

Meanwhile, the telecommunications sector and its sole stock, Du, went up by 0.2% each.

On the other hand, the transportation and banks sectors decreased by 0.8% and 0.08%, respectively.

The DFM’s turnover amounted to AED 461.23 million after 331.09 million shares were exchanged through 5,052 transactions.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
EMAAR DEVELOPMENT PJSC 0.71% 4.24 End-of-day quote.-4.54%
EMAAR MALLS PJSC -0.52% 1.91 End-of-day quote.6.15%
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Financials (AED)
Sales 2019 13 962 M
EBIT 2019 5 130 M
Net income 2019 3 996 M
Finance 2019 5 110 M
Yield 2019 12,3%
P/E ratio 2019 3,78x
P/E ratio 2020 4,52x
EV / Sales2019 0,85x
EV / Sales2020 0,65x
Capitalization 16 960 M
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 5,26  AED
Last Close Price 4,24  AED
Spread / Highest target 65,1%
Spread / Average Target 24,0%
Spread / Lowest Target -11,3%
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Managers
NameTitle
Bader Saeed Hareb Chief Executive Officer
Mohammed bin Ali Rashed Al-Abbar Chairman
Sunil Grover Chief Financial Officer
Ahmed bin Jamal bin Hassan Jawa Non-Executive Director
Jamal Majid Khalfan bin Thaniah Vice Chairman
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