Shares in the UAE and Saudi Arabia began the week lower on Sunday, following a sharp decline in oil prices over the weekend.
In Dubai, the benchmark index was dragged lower by Dubai Investments.
Crude oil prices fell to a three-month low on Friday, as US stockpiles climbed to 528.4 million barrels. Brent crude futures settled at US$51.37 per barrel.
“Lower oil prices at the weekend put pressure on both UAE and Saudi markets,” said Hani Konquar, the team leader for Mena equity sales and trading at Mubasher Financial Services in Dubai.
“For Dubai, we saw further downside on the market from the sell-off of Dubai Investments, as their dividend distribution announcement … was not as expected.”
The Dubai Financial Market General Index closed 1.1 per cent lower at a new three-month low of 3,480.92.
Dubai Investments, which proposed a 10 per cent cash and 5 per cent bonus shares dividend for 2016 on Thursday, led the sell-off of big- name stocks, finishing 6.5 per cent lower at Dh2.32.
Shuaa Capital led gainers, rising 14.7 per cent after announcing the acquisition of Abu Dhabi companies Integrated Capital and Integrated Securities.
The Abu Dhabi Securities Exchange General Index closed 0.5 per cent lower at 4,436.43 on the exchange’s quietest day of trading so far this year, owing to falls by FGB and Etisalat.
In Saudi Arabia, the Tadawul finished down 1.2 per cent, thanks to sell offs by Jabal Omar Development, Sabic and Ma’aden. Shares in Bahrain led gains across the Arabian Gulf, closing up 0.9 per cent.
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The Limehouse Golem
Director: Juan Carlos Medina
Cast: Olivia Cooke, Bill Nighy, Douglas Booth
Three stars
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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Company%20Profile
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
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Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi
6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle
6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle
7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed
Company%20Profile
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Company%20Profile
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More on Quran memorisation:
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.
COMPANY%20PROFILE
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
The Kingfisher Secret
Anonymous, Penguin Books
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COMPANY%20PROFILE
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5