United Arab Emirates stocks mixed at close of trade; DFM General down 0.41%

United Arab Emirates stocks mixed at close of trade; DFM General down 0.41%

Aug 28, 2018

United Arab Emirates stocks were mixed after the close on Tuesday, as gains in the Telecoms, Finance&Investment and Transport sectors led shares higher while losses in the Real Estate&Construction, Services and Banking sectors led shares lower.

At the close in Dubai, the DFM General declined 0.41%, while the ADX General index gained 0.36%.

The best performers of the session on the DFM General were Dubai National Insurance (DU:DNIN), which rose 6.67% or 0.200 points to trade at 3.200 at the close. Meanwhile, AJMAN BANK PJSC (DU:AJBNK) added 3.61% or 0.033 points to end at 0.948 and Emaar Development PJSC (DU:EMAARDEV) was up 2.33% or 0.120 points to 5.270 in late trade.

The worst performers of the session were National General Insurance Co PSC (DU:NGIN), which fell 4.98% or 0.10 points to trade at 1.91 at the close. Dubai Islamic Insurance Co. (DU:AMAN) declined 3.70% or 0.025 points to end at 0.650 and Mashreqbank PSC (DU:MASB) was down 2.79% or 1.95 points to 68.05.

The top performers on the ADX General were Arkan Building Materials Co PJSC (AD:ARKN) which rose 7.41% to 0.5800, Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which was up 4.17% to settle at 0.500 and Rak Cement Co (AD:RKCC) which gained 2.67% to close at 0.770.

The worst performers were Ad Shipbldg Co (AD:ADSB) which was down 9.79% to 1.290 in late trade, Ad Natl Energy (AD:TAQA) which lost 5.83% to settle at 1.130 and Agthia Group (AD:AGTH) which was down 4.08% to 4.70 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 17 to 15 and 7 ended unchanged; on the Abu Dhabi, 12 fell and 10 advanced, while 6 ended unchanged.

Shares in Ad Shipbldg Co (AD:ADSB) fell to 3-years lows; losing 9.79% or 0.140 to 1.290.

Crude oil for October delivery was up 0.03% or 0.02 to $68.89 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 0.51% or 0.39 to hit $76.89 a barrel, while the December Gold Futures contract rose 0.25% or 3.00 to trade at $1219.00 a troy ounce.

USD/AED was unchanged 0.00% to 3.6732, while EUR/AED rose 0.16% to 4.2973.

The US Dollar Index Futures was down 0.12% at 94.56.

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