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United Arab Emirates stocks lower at close of trade; DFM General down 1.97%

2018-10-11 19:38    Investing

United Arab Emirates stocks lower at close of trade; DFM General down 1.97% Stock News

© Reuters. United Arab Emirates Stocks lower at close of trade; DFM General down 1.97%

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

At the close in Dubai, the DFM General lost 1.97%, while the ADX General index fell 0.93%.

The best performers of the session on the DFM General were Gulf Navigation Holding PJSC (DU:GNAV), which rose 4.32% or 0.040 points to trade at 0.965 at the close. Meanwhile, Islamic Arab Insurance Company (DU:SALAMA) added 4.26% or 0.027 points to end at 0.661 and DXB Entertainments (P.J.S.C.) (DU:DXBE) was up 0.28% or 0.001 points to 0.361 in late trade.

The worst performers of the session were Takaful Emarat PSC (DU:TKFE), which fell 5.11% or 0.090 points to trade at 1.670 at the close. Drake & Scull International PJSC (DU:DSI) declined 4.69% or 0.019 points to end at 0.386 and Damac Properties Dubai Co PSC (DU:DAMAC) was down 4.43% or 0.090 points to 1.940.

The top performers on the ADX General were Gulf Pharm Ind (AD:GPHI) which rose 1.00% to 2.020, Eshraq Properties Co PJSC (AD:ESHR) which was up 0.53% to settle at 0.5710 and Methaq (AD:METH) which gained 0.26% to close at 0.778.

The worst performers were Rak Cement Co (AD:RKCC) which was down 5.56% to 0.680 in late trade, Agthia Group (AD:AGTH) which lost 3.75% to settle at 3.85 and Union Natl Bk (AD:UNB) which was down 2.44% to 4.800 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 26 to 7 and 5 ended unchanged; on the Abu Dhabi, 16 fell and 3 advanced, while 6 ended unchanged.

Shares in Takaful Emarat PSC (DU:TKFE) fell to 52-week lows; losing 5.11% or 0.090 to 1.670. Shares in Islamic Arab Insurance Company (DU:SALAMA) rose to 52-week highs; rising 4.26% or 0.027 to 0.661. Shares in Damac Properties Dubai Co PSC (DU:DAMAC) fell to 3-years lows; falling 4.43% or 0.090 to 1.940.

Crude oil for November delivery was down 1.75% or 1.28 to $71.89 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 1.90% or 1.58 to hit $81.51 a barrel, while the December Gold Futures contract rose 1.13% or 13.50 to trade at $1206.90 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.47% to 4.2506.

The US Dollar Index Futures was down 0.37% at 94.87.

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