UAE shares posted strong gains yesterday, boosted by rising global stock markets and reaction to local purchasing managers’ (PMI) index data for September.
Equities worldwide rose strongly yesterday, after weak US employment data released on Friday strengthened sentiment that the US Federal Reserve may not raise interest rates this year.
Dubai's headline share index rose by 1.8 per cent to 3,658.86, while the Abu Dhabi Securities Exchange General Index ended the day up 1 per cent at 4,564.54.
“The PMI numbers are down slightly on last month, but they still indicate solid business sentiment,” said Tariq Qaqish, the head of asset management at Al Mal Capital in Dubai.
Shares in Emaar Properties were among the main gainers in Dubai. The real estate giant's shares closed up 3.7 per cent at Dh6.71, the highest level since the end of August.
Fellow blue chips Arabtec Holding and DIB were not far behind, ending the day up 2.1 and 1.1 per cent respectively.
Abu Dhabi's headline index was boosted by gains from FGB and Etisalat, which ended the day up 0.3 per cent and 2 per cent respectively.
Aldar Properties and ADCB also posted gains, of 2.9 and 2.6 per cent.
jeverington@thenational.ae
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How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now