x Abu Dhabi, UAEWednesday 26 July 2017

UAE markets mixed following volatile week

Markets Update: After a week of volatile movement on global stock markets, stocks show mixed results this morning in the Emirates.

Dubai's stock market showed mixed performance Thursday morning, amid low volumes and as investors remained on the sidelines following a week of volatility triggered by global markets.

Tamweel, a mortgage company complying with Shariah rules, rose 1.7 per cent to Dh1.18. Air Arabia, a regional budget carrier, fell 0.8 per cent to 59 fils.

The Dubai Financial Market General Index was little changed at 1482.05 points. Only Dh16.3 million worth of shares were traded this morning, compared to the daily average of Dh70 million for May.

The Abu Dhabi Securities Exchange (ADX) dipped slightly, weighed by property companies.

RAK Properties slumped 2.7 per cent to 36 fils. Sorouh Real Estate declined 1.9 per cent to Dh1.02.

The ADX General Index 0.1 per cent to 2473.07 points.

Elsewhere in the region, Kuwait's index lost 0.1 per cent to 6356.74 points. Bahrain's index was little changed at 1138.61 points. Oman's MSM 30 Index was unchanged at 5721.36 points. Qatar's QE Index lost 0.3 per cent to 8467.42 points. The Saudi Tadawul All-Share Index lost 0.5 per cent to 7061.43 points.

HAlSayegh@thenational.ae

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