Text size:

  • Small
  • Normal
  • Large

Shares fall at Middle East's Air Arabia as company goes ex-dividend

Markets Update: Air Arabia led shares lower after the low cost carrier went ex-dividend - with video.

The first and largest low-cost carrier in the Middle East and North Africa led UAE equities lower during trading, declining almost 9 per cent, after the company went ex-dividend.

Air Arabia reached its lowest closing price since its initial public offering, down 8.9 per cent to 76 fils a share. The company distributed dividends of 8 fils per share.

Arabtec Holding, Dubai's biggest contractor, was unchanged at Dh1.64 even after the company's CFO, Ziad Makhzoumi, said he maintains a positive outlook for the first quarter and beyond, despite the regional turmoil.

The Dubai Financial Market General Index declined 0.8 per cent to 1542.61.

The Abu Dhabi Securities Exchange General Index lost 0.02 per cent to 2634.13.

Elsewhere in the region, Kuwait's measure lost 1.1 per cent to 6253.20. Bahrain's measure added 0.4 per cent to 1432.23. Oman's index lost 1.7 per cent to 6225.36. Qatar's measure lost 0.1 per cent to 8383.36. The Saudi Tadawul All-Share Index was flat at 6523.18.

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 A sign points the way to an outdoor market popular with German visitors on the Polish side of the German-Polish border. Sean Gallup / Getty Images

In pictures: A decade since the European Union went east

May 1 will mark 10 years since the European Union expanded east, taking in countries like Poland, the Czech Republic and the Baltic states as new members. And though the border region between Germany and Poland is flourishing with trade and cultural exchange, the open border has also brought a sharp rise in crime.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National