UAE shares rose on Sunday, unaffected by Thursday’s Fed decision to keep interest rates on hold.
US and European stocks fell on Friday, after the US Federal Reserve decided to keep US interest rates unchanged. Brent crude futures declined $1.61 to $47.47 per barrel.
Dubai shares dipped by 1.1 per cent in midday trading, before recovering to end the day almost unchanged, closing up 0.03 per cent at 3,626.32.
Gains on the index were led by construction firm Drake and Scull International, which posted its largest one-day gain since early July, rising 8.26 per cent to 65.5 fils.
Deyaar Development and Arabtec Holding were among the other lead gainers, closing up 3.2 per cent and 2.2 per cent respectively.
At the other end of the spectrum Aramex ended the day 2.7 per cent lower at Dh3.21, while the index heavyweight Emaar Properties closed 0.7 per cent at Dh6.36.
Shares in Abu Dhabi, meanwhile, closed up 0.5 per cent at 4,505.32, thanks to rising banking stocks.
National Bank of Abu Dhabi shares gained 4.1 per cent at Dh9.74, while FGB and ADCB ended the day up 1.8 per cent and 0.93 per cent respectively.
Dana Gas led gains, rising 5.7 per cent to a one-month high of 55 fils apiece.
jeverington@thenational.ae
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