Dubai shares fell on Monday, prompted by a plunge in first-quarter income at Union Properties.
The Dubai-based developer’s shares suffered their worst day of the year so far, closing down 9.7 per cent at Dh1.21, after reporting an 84 per cent fall in profits for the first quarter.
UP’s woes affected other real estate stocks, with shares in Arabtec Holding and Damac Properties falling 4.78 per cent and 2.54 per cent respectively.
The Dubai Financial Market General Index ended the day down 1.83 per cent at 4,071.58.
Tabreed was also among the main losers as investors booked gains after the stock’s price rose by more than 25 per cent in the previous two days’ trading. The district cooling company’s shares ended down 6.54 per cent at Dh1.43.
Shares in the capital, meanwhile, fared a little better. The Abu Dhabi Securities Exchange General Index ended up 0.26 per cent at 4,587.62.
Abu Dhabi Ship Building was the index’s lead gainer, closing up 14.46 per cent at Dh1.90, after the company reported profit of Dh41.7 million for the first quarter, compared with a loss of Dh6.5m a year ago.
But Union Properties’ woes also affected Abu Dhabi-based real estate stocks, with Arkan Building Materials, Ras Al Khaimah Cement and Eshraq Properties all closing heavily down.
jeverington@thenational.ae
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Day 3, Abu Dhabi Test: At a glance
Moment of the day Just three balls remained in an exhausting day for Sri Lanka’s bowlers when they were afforded some belated cheer. Nuwan Pradeep, unrewarded in 15 overs to that point, let slip a seemingly innocuous delivery down the legside. Babar Azam feathered it behind, and Niroshan Dickwella dived to make a fine catch.
Stat of the day - 2.56 Shan Masood and Sami Aslam are the 16th opening partnership Pakistan have had in Tests in the past five years. That turnover at the top of the order – a new pair every 2.56 Test matches on average – is by far the fastest rate among the leading Test sides. Masood and Aslam put on 114 in their first alliance in Abu Dhabi.
The verdict Even by the normal standards of Test cricket in the UAE, this has been slow going. Pakistan’s run-rate of 2.38 per over is the lowest they have managed in a Test match in this country. With just 14 wickets having fallen in three days so far, it is difficult to see 26 dropping to bring about a result over the next two.
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
The biog
Name: Atheja Ali Busaibah
Date of birth: 15 November, 1951
Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”
Hobbies: Reading and writing poetry
Match info
Premier League
Manchester United 2 (Martial 30', Lingard 69')
Arsenal 2 (Mustafi 26', Rojo 68' OG)
The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Summer special
DRIVERS' CHAMPIONSHIP STANDINGS
1. Sebastian Vettel (Ferrari) 171 points
2. Lewis Hamilton (Mercedes-GP) 151
3. Valtteri Bottas (Mercedes-GP) 136
4. Daniel Ricciardo (Red Bull Racing) 107
5. Kimi Raikkonen (Ferrari) 83
6. Sergio Perez (Force India) 50
7. Max Verstappen (Red Bull Racing) 45
8. Esteban Ocon (Force India) 39
9. Carlos Sainz (Torro Rosso) 29
10. Felipe Massa (Williams) 22