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United Arab Emirates stocks lower at close of trade; DFM General down 1.83%

Published 05/03/2018, 07:15 AM
Updated 05/03/2018, 07:15 AM
© Reuters.  United Arab Emirates stocks lower at close of trade; DFM General down 1.83%

© Reuters. United Arab Emirates stocks lower at close of trade; DFM General down 1.83%

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

At the close in Dubai, the DFM General fell 1.83% to hit a new 52-week low, while the ADX General index lost 1.69%.

The best performers of the session on the DFM General were Takaful Emarat PSC (DU:TKFE), which rose 2.78% or 0.050 points to trade at 1.850 at the close. Meanwhile, Dubai Islamic Insurance Co. (DU:AMAN) added 2.61% or 0.017 points to end at 0.668 and AJMAN BANK PJSC (DU:AJBNK) was up 1.02% or 0.010 points to 0.990 in late trade.

The worst performers of the session were Damac Properties Dubai Co PSC (DU:DAMAC), which fell 7.09% or 0.180 points to trade at 2.360 at the close. Drake & Scull International PJSC (DU:DSI) declined 5.26% or 0.060 points to end at 1.080 and National Cement Company P.S.C. (DU:NCC) was down 4.26% or 0.120 points to 2.700.

The top performers on the ADX General were Abd Nat Takafu (AD:TKFL) which rose 8.51% to 5.10, Dana Gas (AD:DANA) which was up 6.19% to settle at 1.030 and Emirates Ins C (AD:EIC) which gained 5.60% to close at 6.60.

The worst performers were Ad Shipbldg Co (AD:ADSB) which was down 9.48% to 1.910 in late trade, Gulf Pharm Ind (AD:GPHI) which lost 6.61% to settle at 2.120 and International Holding Company PJSC (AD:IHC) which was down 5.52% to 1.37 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 18 to 14 and 6 ended unchanged; on the Abu Dhabi, 16 fell and 6 advanced, while 7 ended unchanged.

Shares in Damac Properties Dubai Co PSC (DU:DAMAC) fell to 52-week lows; losing 7.09% or 0.180 to 2.360. Shares in Drake & Scull International PJSC (DU:DSI) fell to 52-week lows; losing 5.26% or 0.060 to 1.080. Shares in National Cement Company P.S.C. (DU:NCC) fell to 5-year lows; losing 4.26% or 0.120 to 2.700. Shares in Dana Gas (AD:DANA) rose to 5-year highs; up 6.19% or 0.060 to 1.030. Shares in International Holding Company PJSC (AD:IHC) fell to 52-week lows; losing 5.52% or 0.08 to 1.37.

Crude oil for June delivery was down 0.15% or 0.10 to $67.83 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.59% or 0.43 to hit $72.93 a barrel, while the June Gold Futures contract rose 0.54% or 7.00 to trade at $1312.60 a troy ounce.

USD/AED was up 0.00% to 3.6732, while EUR/AED rose 0.29% to 4.4008.

The US Dollar Index Futures was down 0.27% at 92.34.

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