Regional shares drifted lower amid falling oil prices and a retreat in emerging market stocks, as traders see an increased chance of a US interest rate rise before the end of the year.
Two senior US officials hinted that better-than-predicted US economic growth makes a rise in interest rates more likely in the coming months. The comments prompted a dip in emerging market shares, which had risen to a 13-month high earlier this week.
Arabian Gulf stocks were further undermined by crude oil prices, which fell for the first time in a week on rising US petrol inventories. Brent crude futures traded around 0.5 per cent lower at $48.98 per barrel in afternoon trading.
The fall in oil prices took its toll on Saudi shares, with the Tadawul closing 1.7 per cent lower.
The Dubai Financial Market General Index ended 0.8 per cent per cent lower at 3,556.62, as Emaar Properties lost ground for the second consecutive day. The developer’s shares closed just over 1 per cent lower at Dh7.26.
Air Arabia and du were the pick of just six gainers, closing up 0.7 and 0.1 per cent respectively.
Abu Dhabi shares followed suit, closing down 0.3 per cent at 4,525.36, dragged lower by bank stocks. Shares in ADCB suffered their worst one-day fall since April, closing down 5 per cent at Dh6.60, while FGB ended 0.4 per cent lower.
Qatar stocks defied the regional gloom, holding on to Tuesday’s large gains. The Qatar Exchange Index closed up 0.3 per cent at a new high for the year of 11,408.75.
jeverington@thenational.ae
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SPECS
Mini John Cooper Works Clubman and Mini John Cooper Works Countryman
Engine: two-litre 4-cylinder turbo
Transmission: nine-speed automatic
Power: 306hp
Torque: 450Nm
Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
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RESULT
Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
