UAE markets were quiet yesterday as trading volumes dipped in Abu Dhabi and Dubai and Brent crude hovered around US$60 a barrel.
The Dubai Financial Market General Index fell 0.4 per cent to 3,840.07.
Sanyalaksna Manibhandu, the chief equities analyst at National Bank of Abu Dhabi, said markets remained neutral because of oil prices.
He noted a shift in the markets as investors look more to dividend yields.
Earnings reports released last week from du and Sharjah-based Air Arabia failed to provide any "upside in prices", he said.
In Dubai, Arabtec rose 7 fils to Dh3.15 a share in early trading as the company won US$253 million worth of oil and gas contracts in Saudi Arabia. The stock sagged through the day, though, and had dropped to Dh3.07 at the close as investors awaited earnings results expected next month.
The Abu Dhabi Securities Exchange General Index lost 0.4 per cent to end the day at 4,647.25.
“There’s no trend right now in the market,” said Sebastien Henin, senior vice president at The National Investor. “Unfortunately this might continue in the coming weeks.”
lgraves@thenational.ae
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Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
The specs: 2018 Jeep Grand Cherokee Trackhawk
Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Company%20profile
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Structural%20weaknesses%20facing%20Israel%20economy
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if you go
The flights
Fly to Rome with Etihad (www.etihad.ae) or Emirates (www.emirates.com) from Dh2,480 return including taxes. The flight takes six hours. Fly from Rome to Trapani with Ryanair (www.ryanair.com) from Dh420 return including taxes. The flight takes one hour 10 minutes.
The hotels
The author recommends the following hotels for this itinerary. In Trapani, Ai Lumi (www.ailumi.it); in Marsala, Viacolvento (www.viacolventomarsala.it); and in Marsala Del Vallo, the Meliaresort Dimore Storiche (www.meliaresort.it).