x Abu Dhabi, UAEFriday 28 July 2017

UAE stock markets open on a positive note

Dubai's stocks rose at the open, tracking Asian markets, ahead of a US federal reserve meeting where speculation has mounted that policymakers may introduce fresh stimulus to buoy the world's largest economy.

Dubai's stocks rose at the open, tracking Asian markets, ahead of a US federal reserve meeting where speculation has mounted that policymakers may introduce fresh stimulus to buoy the world's largest economy.

Tamweel, the Islamic mortgage company, jumped 2.3 per cent to Dh1.30. Emaar Properties, the developer behind the world's largest skyscraper, gained 1.1 per cent to Dh3.41. The Dubai Financial Market General Index was up 0.6 per cent to 1568.18 points.

In Abu Dhabi, Sorouh Real Estate continued to make decent strides, up 2.5 per cent to Dh1.23. The stock has risen by almost 10 per cent this week amid retail investors as it reached key technical levels. Aldar Properties, the developer behind Yas Island and Ferrari World, gained 1.6 per cent to Dh1.27. The Abu Dhabi Securities Exchange General Index was up 0.2 per cent to 2602.34 points.

Elsewhere in the region, Kuwait's measure slipped 0.1 per cent to 5815.98 points. Bahrain's index lost 0.3 per cent to 1072.51 points. Oman's MSM 30 Index added 0.1 per cent to 5561.57 points. Qatar's QE Index slipped 0.04 per cent to 8474.70 points.

The Saudi Tadawul All-Share Index added 0.2 per cent to 7086.80 points yesterday.

halsayegh@thenational.ae