The market capitalisation of foreign shares at UAE stock markets continued their rising streak for the second month running, surging to AED104.5 billion during July, a growth of 5.5 percent over the month of June.

According to official figures released by UAE main bourses, the leading companies trading at the telecommunications, property and banking sectors drove the significant increase in the market value of foreign equities during July in line with the expectations of analysts who monitored a buying spree among this segment of investors despite the recorded improvement in share prices.

In more detail, shares owned by non-Arabs jumped to AED72.77 billion during July, a 6.4 percent increase over June. At DFM, non-Arab investors' purchases amounted to AED41.6 billion and to AED31.1 billion at ADX.

The market value of shares owned by GCC investors during the same monitored period reached AED24.9 billion, AED10.5 billion of which at ADX and AED14.4 billion at DFM.

In the meantime, the value of Arab-owned shares hit AED6.86 billion, AED4.5 billion of which at DFM and AED2.3 billion at ADX.

Foreign investors, including Arabs and non-Arabs, purchased 112.5 million shares in Etisalat, 47.2 million in Emaar, 64.5 million in Aldar and 44.1. million equities in Dubai Investments, according to official statistics.

Source: Wam