UAE shares were mixed on Monday, with bank stocks leading gains in Abu Dhabi, and Dubai retreating on profit-taking.
The Abu Dhabi Securities Exchange General Index led gains as the region's top performer, rising 1.2 per cent at 4,106.37, its eighth consecutive day in the green.
“It’s been a good run especially with banks, with some nice surprises on the dividend front,” said Sebastien Henin, head of asset management at Abu Dhabi-based investment firm The National Investor.
ADCB rose 4.8 per cent to Dh6.29, on recommendations of a 45 per cent dividend on profit of Dh4.9 billion for 2015.
Shares in FGB, which on Sunday recommended a 100 per cent cash dividend on a net income of Dh6.01bn last year, rose 3 per cent to Dh11.70.
Dubai's headline index fell by nearly 2 per cent as investors booked gains from Sunday's rally, but recovered to finish 0.5 per cent lower at 2,980.04.
Dubai Investments lost 2.8 per cent to Dh1.72, while Arabtec Holding fell 1.6 per cent to Dh1.18.
Emaar Properties was among the main gainers, rising 1.3 per cent to Dh5.18, while Damac Properties closed up 1.2 per cent at Dh2.35.
jeverington@thenational.ae
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
UAE currency: the story behind the money in your pockets
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Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million