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Eshraq’s stock grows 1.25% on Q3 results

Eshraq’s stock grows 1.25% on Q3 results
The ADX’s main index inched down 0.08%
Eshraq
ESHRAQ
-0.71% 0.28 -0.00

Abu Dhabi – Mubasher: Eshraq Properties’ stock increased on Sunday on the Abu Dhabi Securities Exchange (ADX) after the disclosure of its financial results for the third quarter of 2017.

By: 12:00 pm UAE time, the stock increased by 1.25% to AED 0.81 with a turnover of AED 18.37 million and 22.66 million traded shares.

Earlier on Sunday, the company disclosed its financial results for the Q3-17, which showed the company turning to profitability with AED 685,000 ($186,450) in net profit versus a loss of an AED 48.49 million ($13.19 million) in the comparative period of 2016.

Technically, Eshraq Properties’ stock is targeting the AED 0.85 level, which it may break above to reach AED 1.10 and AED 1.25, market analyst Mohamed Kamal told Mubasher.

In the meantime, the ADX’s main index inched down 0.08% or 3.8 points to 4,501.53 points.