Shares in the UAE rose for the second day in a row, as European stocks began to shrug off the prospect of a rise in US interest rates.
The Euro Stoxx 50 was trading about 1.67 per cent higher yesterday afternoon, in spite of Brent futures falling to about US$47.80 a barrel before rising to $48.38.
The Dubai Financial Market General Index closed up 0.97 per cent at 3,247.60, thanks to a 3.09 per cent gain by Dubai Islamic Bank.
However, there was no respite for Emaar Properties, the index’s heaviest weighted stock, which closed down 0.66 per cent at Dh6.06.
Shares in Shuaa Capital continued their recent rise, closing up 5.43 per cent at 66 fils amid reports that majority shareholder Dubai Group will sell down its stake in the investment bank.
Shuaa’s shares are among the best performers on the Dubai bourse so far this year, having risen more than 60 per cent since the start of the year.
In the capital, the Abu Dhabi Securities Exchange General Index also finished higher, closing 0.56 per cent up at 4,222.16, thanks to a 0.58 per cent gain by Etisalat.
ADCB and ADIB were among the other main gainers, ending up 1.54 per cent and 0.82 per cent, respectively.
Shares in Saudi Arabia also shrugged off the fresh fall in oil prices to recover ground after Monday’s sell-off. The Tadawul All Share Index was up 0.77 per cent at 6,474.84.
jeverington@thenational.ae
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PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
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
Ads on social media can 'normalise' drugs
A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.
The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.
Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.
Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.