UAE equities closed marginally higher on a quiet day of trading on Tuesday, as the prospect of Brexit continued to depress shares in Europe and beyond.
Polls showing increasing support for a British exit from the EU provoked an increasing demand for sovereign bonds in preference to equities. The Euro Stoxx 50 traded around 1.2 per cent down late on Tuesday afternoon, with the FTSE 100 also off 1.2 per cent.
Oil prices continued to drift lower on a strengthened US dollar. Brent crude futures dropped below US$50 per barrel for the first time in over a week, trading at around $49.67 per barrel during the late afternoon.
The Dubai Financial Market General Index ended the day 0.1 per cent higher at 3,329.71, with trading volumes on the emirate's headline index less than half of the daily average for the year to date.
Shares opened slightly lower, but ended the day in positive territory, thanks to gains by DIB and Emaar Malls. Emirates NBD and Damac Properties led losses among big name stocks, each closing down 1.2 per cent.
Trading on the Abu Dhabi Securities Exchange hit a five-year low, with the shares of less than 30 companies traded during the day.
The capital’s headline index finished up 0.4 per cent at 4,386.42, boosted by late gains by NBAD. Etisalat and FGB were among the other big name gainers, cancelling out losses by ADCB and ADIB.
The Qatar Exchange Index and Saudi Arabia’s Tadawul All Share Index led gains across the Arabian Gulf with each closing more than 0.5 per cent higher.
jeverington@thenational.ae
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
The five pillars of Islam
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Director: Goran Hugo Olsson
Rating: 5/5
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
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
Results
6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m
Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).
7.05pm: Maiden (TB) Dh165,000 (D) 1,400m
Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.
7.40pm: Maiden (TB) Dh165,000 (D) 1,600m
Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.
8.15pm: Handicap (TB) Dh190,000 (D) 1,200m
Winner: My Catch, Pat Dobbs, Doug Watson.
8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.
9.25pm: Handicap (TB) Dh190,000 (D) 1,600m
Winner: Golden Goal, Pat Dobbs, Doug Watson.
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Pakistan v New Zealand Test series
Pakistan: Sarfraz (c), Hafeez, Imam, Azhar, Sohail, Shafiq, Azam, Saad, Yasir, Asif, Abbas, Hassan, Afridi, Ashraf, Hamza
New Zealand: Williamson (c), Blundell, Boult, De Grandhomme, Henry, Latham, Nicholls, Ajaz, Raval, Sodhi, Somerville, Southee, Taylor, Wagner
Umpires: Bruce Oxerford (AUS) and Ian Gould (ENG); TV umpire: Paul Reiffel (AUS); Match referee: David Boon (AUS)
Tickets and schedule: Entry is free for all spectators. Gates open at 9am. Play commences at 10am
Engine: 80 kWh four-wheel-drive
Transmission: eight-speed automatic
Power: 402bhp
Torque: 760Nm
Price: From Dh280,000
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri