UAE's stock market rose on Thursday, amid signals that European policymakers are trying to resolve Spain's banking crisis.
In Abu Dhabi, the emirate's bourse was lifted by banking stocks.
Abu Dhabi Commercial Bank, the country's third-biggest lender, jumped 3.5 per cent to Dh3.19 at the opening bell. Sharjah Islamic Bank gained 2.3 per cent to 86 fils. First Gulf Bank, the lender controlled by Abu Dhabi's ruling family, rose 0.3 per cent to Dh8.50.
The Abu Dhabi Securities Exchange rose 0.3 per cent to 2443.11 points.
Yesterday, European Central Bank chief Mario Draghi said he was "ready to act" to prevent the euro-zone contagion from spreading further.
"We are seeing a good day, but its not being supported by turnover or conviction," said Marwan Shurrab, the chief trader at asset-manager Gulfmena Investments in Dubai.
"Many are waiting for European markets to get a clearer picture, plus its the last day of the trading week here and many don't want to take the risk and have open positions in the event global markets lose steam on Friday."
In Dubai, District cooling company Tabreed gained 2.5 per cent to Dh1.20 on the Dubai Financial Market. Tamweel, the mortgage company complying with Shariah rules, rose 1.7 per cent to Dh1.14. Arabtec Holding, the biggest contractor in the UAE, added 0.7 per cent to Dh2.84.
The Dubai Financial Market General Index rose 0.4 per cent to 1461.74 points.
Elsewhere in the region, Kuwait's measure added 0.1 per cent to 6094.01 points. Bahrain's index was unchanged at 1132.17 points. Oman's MSM 30 Index added 0.1 per cent to 5792.24 points. Qatar's QE Index was little changed at 8336.70 points.
The Saudi Tadawul was closed for the day.
In Asia, markets also rose on improved global sentiment.
Japan's Nikkei Index rose 1.2 per cent to 8639.72 points. Korea's Topix Index rose 1.7 per cent to 730.75 points. Hong Kong's Hang Seng Index rose 0.8 per cent 18,679.00.
European stock futures were also up this morning, indicating a positive opening.
HAlSayegh@thenational.ae
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
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David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
Bio
Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro
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MATCH INFO
Serie A
Juventus v Fiorentina, Saturday, 8pm (UAE)
Match is on BeIN Sports
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5