iPhone | iPad
Android
Huawei
President Emmanuel Macron should have appointed a prime minister from their ranks, said the left-wing lawmakers
KT APPDOWNLOAD
Bears Tighten Grip as Dubai Hits One-month Low; Abu Dhabi Falls 1pc
DUBAI — UAE shares on Wednesday were sold as investors continued to off-load banking and property stocks in Dubai and Abu Dhabi.
Dubai Financial Market General Index, or DMFGI, dropped for a fifth consecutive day in a row to hit a one-month low while Abu Dhabi Securities Exchange’s benchmark index fell in across-the-board selling as only Sharjah Cement and Industrial Development Company managed to close in positive territory by gaining 4.17 per cent to Dh1.5.
Shuaa Capital was the top-loser in Dubai. UAE’s biggest investment bank dropped 5.08 per cent to Dh1.12, the lowest level since May 25. Emirates NBD, the nation’s biggest bank, declined 1.62 per cent to Dh2.43, the lowest since February 1. Gulf Finance House fell 3.09 per cent to Dh0.94 while Dubai Islamic Bank fell 0.88 per cent to Dh2.25
DMFGI was down one per cent to 1,569.63 points, the lowest close since January 27. The measure has lost 3.6 per cent in the past five days.
Out of 27 stocks traded yesterday, only five posted gains, while eight remain unchanged and 14 declined. Volume improved to 141.91 million shares from 91.5 million a day before.
“Uncertainty and rumours regarding Dubai World restructuring is controlling market sentiment,” said Samer Al Jaouni, General Manager of Middle East Financial Brokerage Co.
“Institutions, especially foreign buyers, will stay away from such markets,” he said.
In the property sector, Emaar fell 1.72 per cent to Dh2.85 while Union Properties closed the day up 2.17 per cent to Dd0.47. Arabtec Holding dropped 0.48 per cent to Dh2.08 after it announced that its board of directors would meet on March 1.
Bourse operator, Dubai Financial Market ended 2.76 per cent lower at Dh1.41. Abu Dhabi’s index fell 1.1 per cent to 2,719.32 points. Abu Dhabi Commercial Bank slumped 5.6 per cent to a three-week low as investors continue to sell banking and real estate stocks pulling the index down in line with the neighbouring emirate. Out of 22 stocks traded on ADX, only one company ended up, eight remained unchanged and 14 declined.
Aldar Properties ended 3.7 per cent lower while Sorouh Real Estate closed 2.8 per cent down.
In terms of value, Aldar Properties was the most active share on ADX as Dh9.96 million worth of its shares changed hands. In terms of volume, RAK Properties remained on top as 6.45 million of its shares were traded on the exchange.
More news from
Educational institutions in the country have stressed that they implement strict policies and conduct stringent background checks to avoid such situations
The bombing has killed more than 1,110 people and displaced up to one million in Lebanon, according to official figures
Updated rules have been issued for these commuters as experts call for safer batteries to avoid the risk of spontaneous combustion on trains
Both parties also confirmed their shared commitment to improving cooperation in artificial intelligence, especially after the President's recent historic visit to the US
Only 12 out of 120 players completed their rounds as Japan’s Rintaro Nakano held the lead at seven under par
The IHW Summit recognised Dr Khorakiwala’s extraordinary contributions to transforming healthcare in India and on a global scale
The Triangulum Galaxy is the third largest in our local group, right behind the Milky Way and Andromeda