Dubai’s stock market closed lower today owing to weak construction and real estate shares. Saudi stocks rebounded after three days of sell-offs, while Abu Dhabi closed slightly lower.
Arabtec Holding was among the worst performing big- name stocks in Dubai, closing down by 2.5 per cent at Dh2.55, with fellow construction group Drake & Scull International closing 6.2 per cent lower.
The Dubai Financial Market General Index closed 0.5 per cent lower at 3,290.76.
Index bellwether Emaar Properties fell by 0.2 per cent to Dh6.62, with Emaar Malls and Damac Properties falling 1.5 per cent and 2.3 per cent respectively.
Abu Dhabi shares closed 0.3 per cent lower at 4,218.72, because of a 1.7 per cent decline by FGB.
Shares in UNB rose by 3.1 per cent to Dh4.39, as analysts continued to speculate about a potential acquisition of the bank by ADCB, whose shares rose by 3.4 per cent.
UNB’s share price rise came after the announcement of a new Takaful insurance venture in conjunction with Orient Insurance.
Trading volumes in the capital fell closer to average levels yesterday, due to a comparatively quiet day for recent favourite Eshraq Properties.
The developer’s shares closed 7.5 per cent lower at Dh1.11, breaking a three-day winning streak, during which the stock rose by nearly 18 per cent.
In Saudi Arabia, the Tadawul finished the day up 1.6 per cent, on the back of gains by Almarai, Sabic and Jabal Omar Development.
In Doha, the Qatar Exchange closed 0.4 per cent lower at 9,740.80, dragged by QNB and Industries Qatar.
jeverington@thenational.ae
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Women & Power: A Manifesto
Mary Beard
Profile Books and London Review of Books
Low turnout
Two months before the first round on April 10, the appetite of voters for the election is low.
Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.
"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
SPECS%3A%20Polestar%203
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Match info
Who: India v Afghanistan
What: One-off Test match, Bengaluru
When: June 14 to 18
TV: OSN Sports Cricket HD, 8am starts
Online: OSN Play (subscribers only)
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
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KILLING OF QASSEM SULEIMANI
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More on Quran memorisation:
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
UAE currency: the story behind the money in your pockets
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RACE CARD
6.30pm: Handicap (Turf) US$175,000 1,000m
7.05pm: Al Bastakiya Trial Conditions (Dirt) $100,000 1,900m
7.40pm: Al Rashidiya Group 2 (T) $250,000 1,800m
8.15pm: Handicap (D) $135,000 2,000m
8.50pm: Al Fahidi Fort Group 2 (T) $250,000 1,400m
9.25pm: Handicap (T) $135,000 2,410m.
Fifa Club World Cup quarter-final
Kashima Antlers 3 (Nagaki 49’, Serginho 69’, Abe 84’)
Guadalajara 2 (Zaldivar 03’, Pulido 90')
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SPECS
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