x Abu Dhabi, UAETuesday 25 July 2017

Edgy post-Eid start for UAE bourses

As trading restarted on UAE bourses after Eid, markets showed a nervy start with some drops and some small gains in shares in Abu Dhabi and Dubai's property sectors.

Local markets were mixed in early trading today as investor caution weighed on stocks on the first day of business after Eid.
Local markets were mixed in early trading today as investor caution weighed on stocks on the first day of business after Eid.

ABU DHABI // Local markets were mixed in early trading today as investor caution weighed on stocks on the first day of business after Eid.

The Abu Dhabi Securities Exchange Index dropped 0.2 per cent to 2,744.05 points and the Dubai Financial Market (DFM) General Index rose 0.2 per cent to 1,690.88 points.

Property stocks led the gains in Dubai with Emaar Properties increasing 5 per cent to Dh0.76 and shares in Arabtec ticking 1.08 per cent higher to Dh1.87.

Gulf General Investment was another top gainer in the morning trading session as it reported a doubling of net income to Dh53.5 million in the third quarter against Dh22.2mn the year before. Shares in the company rose 4.9 per cent to Dh0.51.

In Abu Dhabi, real estate fared worse as Aldar Properties dropped 1.29 per cent to Dh2.29 per share. Sorouh fell 1.21 per cent to Dh1.63 per share.