Shares in Dubai closed slightly lower on Wednesday, after trading in Abu Dhabi was halted prematurely because of communications failure.
Abu Dhabi’s headline index fell 0.9 per cent to 4,544.35 before trading was suspended midmorning as the exchange’s communications infrastructure was hit by inclement weather conditions.
All trades executed on Wednesday in Abu Dhabi have been cancelled, according to brokers.
Officials for the Abu Dhabi Securities Exchange have not commented on when the bourse is expected to resume trading.
Dubai's headline index closed 0.2 per cent lower at 3,379.72, on the exchange's quietest day of trading of the month so far. Union Properties and Dubai Islamic Bank were among the big names weighing on the index, closing down 2 per cent and 0.3 per cent, respectively. Dubai Investments and Arabtec were the pick of a handful of gainers, rising 1.3 per cent and 1.1 per cent, respectively.
Stocks across the region drifted lower on Wednesday, with Saudi Arabia’s Tadawul All Share Index leading losses with a 0.9 per cent decline, after Brent crude futures pared gains on Tuesday to finish below US$40 per barrel, and investors booked profits on recent gains.
jeverington@thenational.ae
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