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United Arab Emirates stocks lower at close of trade; DFM General down 0.50%

Stock MarketsMay 18, 2017 07:15AM ET
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© Reuters. United Arab Emirates stocks lower at close of trade; DFM General down 0.50%

Investing.com – United Arab Emirates stocks were lower after the close on Thursday, as losses in the Consumer Staples, Finance & Investment and Real Estate & Construction sectors led shares lower.

At the close in Dubai, the DFM General lost 0.50%, while the ADX General index declined 0.27%.

The best performers of the session on the DFM General were Gulf Navigation Holding PJSC (DU:GNAV), which rose 5.26% or 0.070 points to trade at 1.400 at the close. Meanwhile, Takaful Emarat PSC (DU:TKFE) added 3.67% or 0.080 points to end at 2.260 and Takaful House (DU:DTKF) was up 1.92% or 0.020 points to 1.060 in late trade.

The worst performers of the session were DXB Entertainments (P.J.S.C.) (DU:DXBE), which fell 4.32% or 0.037 points to trade at 0.820 at the close. Drake & Scull International PJSC (DU:DSI) declined 2.73% or 0.010 points to end at 0.356 and Gulf General Investments Company (DU:GGIC) was down 2.22% or 0.009 points to 0.396.

The top performers on the ADX General were Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which rose 13.46% to 0.590, Gulf Medical Projects Co PSC (AD:GMPC) which was up 4.35% to settle at 4.80 and Arkan Building Materials Co PJSC (AD:ARKN) which gained 1.49% to close at 0.6800.

The worst performers were Ad Natl Energy (AD:TAQA) which was down 5.00% to 0.570 in late trade, Rak Cement Co (AD:RKCC) which lost 3.61% to settle at 0.800 and Eshraq Properties Co PJSC (AD:ESHR) which was down 2.73% to 1.0700 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 25 to 9 and 4 ended unchanged; on the Abu Dhabi, 11 fell and 6 advanced, while 5 ended unchanged.

Shares in DXB Entertainments (P.J.S.C.) (DU:DXBE) fell to 52-week lows; losing 4.32% or 0.037 to 0.820. Shares in Drake & Scull International PJSC (DU:DSI) fell to 52-week lows; losing 2.73% or 0.010 to 0.356. Shares in Gulf Medical Projects Co PSC (AD:GMPC) rose to all time highs; up 4.35% or 0.20 to 4.80.

Crude oil for June delivery was down 1.63% or 0.80 to $48.27 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 1.65% or 0.86 to hit $51.35 a barrel, while the June Gold Futures contract rose 0.33% or 4.13 to trade at $1262.83 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED fell 0.22% to 4.0899.

The US Dollar Index Futures was up 0.06% at 97.40.

United Arab Emirates stocks lower at close of trade; DFM General down 0.50%

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