DFM Surges on Salik's Toll Operator Plans for New Gates

The Dubai Financial Market (DFM) climbed higher on Friday, driven by a surge in toll operator Salik (SALIK.DU).

The main index (.DFMGI) rose 0.714%, fueled by a 5.180% jump in Salik shares after the company announced plans for two new toll gates - Business Bay Crossing on Al Khail Road, and Al Safa South on Sheikh Zayed Road - to optimise traffic flow and reduce congestion on key routes

Meanwhile, the Abu Dhabi index closed 0.072% down, as IHC, ADNOC Drilling, ADNOC Gas and ADNOC Logistics Services fell 0.840% to AED403.6; 1.490% to AED3.970; 0.920% to AED3.220; and 1.450% to AED4.070 respectively. Banking giants FAB and ADCB stemmed the losses with gains of 2% and 1.8%, respectively.

Adding to the upward momentum in Dubai, Emirates NBD Bank, the emirate's largest lender, gained 1.450% after raising $450 million through a sale of 5-year Formosa bonds, according to an arranging bank document.

News Source: Emirates News Agency