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United Arab Emirates stocks lower at close of trade; DFM General down 1.02%

Published 04/20/2017, 07:15 AM
Updated 04/20/2017, 07:15 AM
© Reuters.  United Arab Emirates stocks lower at close of trade; DFM General down 1.02%

© Reuters. United Arab Emirates stocks lower at close of trade; DFM General down 1.02%

Investing.com – United Arab Emirates stocks were lower after the close on Thursday, as losses in the Telecoms, Finance & Investment and Banking sectors led shares lower.

At the close in Dubai, the DFM General fell 1.02%, while the ADX General index fell 0.22%.

The best performers of the session on the DFM General were Union Properties PJSC (DU:UPRO), which rose 5.75% or 0.056 points to trade at 1.030 at the close. Meanwhile, Amanat Holdings PJSC (DU:AMANT) added 1.89% or 0.020 points to end at 1.080 and Emaar Malls (DU:EMAA) was up 1.13% or 0.030 points to 2.680 in late trade.

The worst performers of the session were Mashreqbank PSC (DU:MASB), which fell 10.00% or 8.00 points to trade at 72.00 at the close. Arabtec Holding PJSC (DU:ARTC) declined 4.40% or 0.041 points to end at 0.890 and Takaful House (DU:DTKF) was down 3.36% or 0.040 points to 1.150.

The top performers on the ADX General were Umm Al Qaiwain Cement Industries Co PSC (AD:QIC) which rose 14.84% to 1.7800, Ad Natl Energy (AD:TAQA) which was up 7.14% to settle at 0.600 and Gulf Pharm Ind (AD:GPHI) which gained 3.42% to close at 2.420.

The worst performers were Rak Cmt & Cons (AD:RAKC) which was down 10.00% to 1.080 in late trade, Fujairah Cement Industries Co PSC (AD:FCI) which lost 9.00% to settle at 0.910 and Int Fish Farmi (AD:ASMK) which was down 4.79% to 1.59 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 25 to 7 and 6 ended unchanged; on the Abu Dhabi, 14 fell and 9 advanced, while 8 ended unchanged.

Shares in Umm Al Qaiwain Cement Industries Co PSC (AD:QIC) rose to 3-years highs; rising 14.84% or 0.2300 to 1.7800.

Crude oil for June delivery was up 0.90% or 0.46 to $51.31 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 1.00% or 0.53 to hit $53.46 a barrel, while the June Gold Futures contract fell 0.19% or 2.40 to trade at $1281.00 a troy ounce.

USD/AED was up 0.00% to 3.6732, while EUR/AED rose 0.42% to 3.9506.

The US Dollar Index Futures was down 0.21% at 99.50.

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