Text size:

  • Small
  • Normal
  • Large
Where Dubai rents have risen and fallen, Q1 2014. Click here
The Abu Dhabi Index was down 0.12 per cent.
The Abu Dhabi Index was down 0.12 per cent.

Muted start after Eid holiday

Local investors are waiting for fresh signals about the health of the global economy.

Local bourses opened with a whimper after the Eid holiday as investors waited to take their cue from global markets.

Abu Dhabi's and Dubai's bourses closed lower after the six-day shutdown. The Abu Dhabi Securities Exchange General Index was down 0.12 per cent at 2,612.82 points. The Dubai Financial Market General Index closed 0.59 per cent lower at 1,483.71.

"The turnover is very low and there's been very little activity as nothing is causing momentum," said Julian Bruce, the director of equity sales at EFG Hermes in Dubai.

"They're all being driven by global market performance and in the absence of that today there's nothing for them to peg their direction to."

In Abu Dhabi, investment and financial services stocks were among the worst performers, closing 1.54 per cent down. Aldar Properties earlier rallied to its highest intraday gain in a month after the developer said its Al Falah villa project would be completed in the next year.

Aldar's stock closed 0.01 per cent higher at Dh1.25.

In Dubai, despite a positive opening Emaar Properties, the market bellwether, closed 0.70 per cent lower at Dh2.84.

Earlier in the day, UAE markets had been tracking gains in Saudi Arabia the previous day.

The kingdom's Tadawul All-Share Index rose 2.1 per cent on Saturday, its largest gain since March 26. Yesterday, the index was trading 0.66 per cent higher at 6,147.4 an hour before closing.

Kuwait's market also ended the day higher, with the Kuwait Stock Exchange Index rising 0.91 per cent to 5,843.80.

Before Eid, local markets had been mirroring the lacklustre performance of global bourses last month.

 

tarnold@thenational.ae

Back to the top

More articles


Editor's Picks

 Would you like it in blue? An Afghan shopkeeper shows a burqa to a customer at a bazaar in Herat. (Aref Karimi / AFP /  April 13, 2014)

In pictures: Best business images for the week to April 24, 2014

Here are some of the best business images for the week to April 24, 2014.

 That's asking a lot: this four-bedroom duplex penthouse apartment  at Marina Residence in Dubai is for sale with an asking price of Dh15.7 million. (Courtesy Better Homes / April 2014)

Palm Jumeirah penthouse listed for Dh15.7 million

A four-bedroom duplex penthouse in Marina Residence 3 on Dubai's Palm Jumeirah is on the market for Dh15.7 million.

 Room with a view from one of the 21 duplex penthouses located in the Gate Towers sky-bridge. The sports courts and swimming pools can be seen below. Courtesy Alda

In pictures: Aldar’s Gate Towers Penthouse Collection on Reem Island

Aldar launched its Gate Towers Penthouse Collection at Cityscape Abu Dhabi. The launch features 21 penthouses spanning the skybridge, with each having a private indoor pool and incredible views.

 Marina Square apartments Reem Island: Q1 2% rise. Studio - Dh65-68,000. 1BR - Dh75-95,000. 2BR - Dh110-145,000. 3BR - Dh170-190,000. Q1 2013-Q1 2014 no change. Sammy Dallal / The National

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

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

 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.

Events

To add your event to The National listings, click here

Get the most from The National