x Abu Dhabi, UAEFriday 28 July 2017

Aggressive sell-off cools on UAE bourses

Markets Update: Regional bourses remain calm at the open after an aggressive sell off yesterday caused by civil unrest in middle eastern countries.

Regional markets cooled at the open, after yesterday's aggressive sell-off caused by civil unrest in middle eastern countries.

The Abu Dhabi Securities Exchange General Index gained 0.5 per cent to 2617.58 at 11am. Dana Gas, the gas explorer and producer, remained unchanged at 65 fils.

Aldar Properties, the capital's largest developer, lost 2.9 per cent to Dh1.65. Sorouh Real Estate lost 2.4 per cent to Dh1.18 a share.

The Dubai Financial Market General Index was flat at 1535.09. Air Arabia gained 1.6 per cent to 82 fils. Emaar Properties, the middle east's largest developer, lost 0.6 per cent to Dh3 a share. Aramex, the middle east's largest courier company, rose 1.1 per cent to Dh1.72. Shares of Aramex declined as much as 8 per cent yesterday.

US crude futures for April rose as much as 2.2 per cent to $91.70 a barrel. Brent for April settlement on the London based ICE Futures Europe Exchange rose as much as 1.2 per cent to $103.72 a barrel.

Elsewhere in the region, Kuwait's measure rose 0.1 per cent to 6400.70. Bahrain's measure declined 0.1 per cent to 1469.80. Qatar's bourse lost 0.3 per cent to 8533.64. The Saudi Tadawul All-Share Index declined 0.7 per cent to 6333.91.