Nasdaq had a (really) good day to cap off the month: The Nasdaq Composite closed at a record high yesterday, marking the first time since November 2021 that the tech-heavy index hit a record close. The index, which is up 7.2% year-to-date, was up 0.9% at the close of trading yesterday, driven by a rally in tech and chip stocks, including the VanEck Semiconductor ETF and Advanced Micro Devices. (CNBC | Wall Street Journal)

ADX

9,254

-0.3% (YTD: -3.4%)

DFM

4,308

+0.4% (YTD: +6.1%)

Nasdaq Dubai UAE20

3,738

-0.5% (YTD: -2.7%)

USD : AED CBUAE

Buy 3.67

Sell 3.67

EIBOR

5.1% o/n

5.3% 1 yr

TASI

12,630

+0.2% (YTD: +5.5%)

EGX30

28,964

+0.3% (YTD: +16.4%)

S&P 500

5,086

+0.3% (YTD: +6.7%)

FTSE 100

7,630

+0.1% (YTD: -1.3%)

Euro Stoxx 50

4,877

-0.1% (YTD: +7.9%)

Brent crude

USD 78.44

+0.2%

Natural gas (Nymex)

USD 1.84

-0.9%

Gold

USD 2,054.20

0.0%

BTC

USD 61,011.44

-0.9% (YTD:+38.1%)

THE CLOSING BELL-

The ADX fell 0.3% yesterday on turnover of AED 1.28 bn. The index is down 3.4% YTD.

In the green: Response Plus Holding (+14.8%), Foodco (+11.5%) and Sharjah Ins. (+7.5%).

In the red: Umm Al Quwain General Investment (-9.8%), Gulf Medical Projects (-9.5%) and Abu Dhabi National Takaful (-8.8%).

Over on the DFM, the index closed up 0.4% on turnover of AED 553.36 mn. Meanwhile in Nasdaq Dubai, the index fell 0.5%.

CORPORATE ACTIONS-

Al Mazaya + First Dubai merger receives greenlight: DFM-listed Kuwaiti firm AlMazaya Holding received regulatory approval from Kuwait’s Capital Market Authority to formally merge with its partially-owned real estate subsidiary First Dubai, according to a DFM disclosure (pdf). Al Mazaya currently holds an 88.82% stake in the real estate developer.

Background: The authority approved the merger previously in 2023. Mazaya Holding has been seeking to fully acquire First Dubai since 2009.

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