Mixed results on UAE bourses


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The Dubai Financial Market rose 0.8 per cent yesterday, while the Abu Dhabi Securities Exchange fell 0.6 per cent.

Dar Al Takaful rose 7.5 per cent on the DFM yesterday, while Takaful Emirates gained 4.7 per cent.

Union Properties rose 4.1 per cent, while Shuaa Capital rose 2.9 per cent.

Fifteen stocks on the DFM advanced, while three fell and 14 remained unchanged.

On the ADX, losses for the National Bank of Abu Dhabi, Finance House and Umm Al Qaiwain Cement Industries dragged the index down.

Finance House shed 10 per cent, while Umm Al Qaiwain Cement fell 6.1 per cent. The National Bank of Abu Dhabi dropped 5.4 per cent, and Gulf Cement lost 3.6 per cent.

Al Ain Ahlia was the largest gainer on the ADX, soaring 9.1 per cent. Waha Capital rose 6.2 per cent, while RAK Cement was up 4.4 per cent, and RAK Properties rose 4.1 per cent.

In the Middle East, bourses in Bahrain, Egypt, Kuwait, Beirut and Muscat all rose. The Qatar Exchange fell 0.1 per cent, while the Saudi Tadawul lost 1.1 per cent. The MSCI Emerging Markets Index declined 0.4 per cent.

Brent rose $0.41 in afternoon trading yesterday, to hit US$49.1 per barrel, after rising $2.10 in Wednesday trading.

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