Dubai’s stock market closed lower today owing to weak construction and real estate shares. Saudi stocks rebounded after three days of sell-offs, while Abu Dhabi closed slightly lower.
Arabtec Holding was among the worst performing big- name stocks in Dubai, closing down by 2.5 per cent at Dh2.55, with fellow construction group Drake & Scull International closing 6.2 per cent lower.
The Dubai Financial Market General Index closed 0.5 per cent lower at 3,290.76.
Index bellwether Emaar Properties fell by 0.2 per cent to Dh6.62, with Emaar Malls and Damac Properties falling 1.5 per cent and 2.3 per cent respectively.
Abu Dhabi shares closed 0.3 per cent lower at 4,218.72, because of a 1.7 per cent decline by FGB.
Shares in UNB rose by 3.1 per cent to Dh4.39, as analysts continued to speculate about a potential acquisition of the bank by ADCB, whose shares rose by 3.4 per cent.
UNB’s share price rise came after the announcement of a new Takaful insurance venture in conjunction with Orient Insurance.
Trading volumes in the capital fell closer to average levels yesterday, due to a comparatively quiet day for recent favourite Eshraq Properties.
The developer’s shares closed 7.5 per cent lower at Dh1.11, breaking a three-day winning streak, during which the stock rose by nearly 18 per cent.
In Saudi Arabia, the Tadawul finished the day up 1.6 per cent, on the back of gains by Almarai, Sabic and Jabal Omar Development.
In Doha, the Qatar Exchange closed 0.4 per cent lower at 9,740.80, dragged by QNB and Industries Qatar.
jeverington@thenational.ae
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The Last White Man
Author: Mohsin Hamid
192 pages
Published by: Hamish Hamilton (UK), Riverhead Books (US)
Release date: out now in the US, August 11 (UK)
UAE PREMIERSHIP
Final: Dubai Hurricanes v Jebel Ali Dragons
Saturday, 8.15pm, Al Ain Amblers
Semi-final results
Dubai Exiles 20-26 Dubai Hurricanes
Dubai Tigers 32-43 Jebel Ali Dragons
Table
1 Dubai Tigers, 33 points
2 Dubai Exiles, 24 points
3 Dubai Hurricanes, 18 points
4 Jebel Ali Dragons, 14 points
5 Abu Dhabi Harlequins, 14 points
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
2017 RESULTS: FRENCH VOTERS IN UK
First round
Emmanuel Macron: 51.1%
Francois Fillon: 24.2%
Jean-Luc Melenchon: 11.8%
Benoit Hamon: 7.0%
Marine Le Pen: 2.9%
Second round
Emmanuel Macron: 95.1%
Marine Le Pen: 4.9%
SPECS
Engine: Supercharged 3.5-litre V6
Power: 400hp
Torque: 430Nm
On sale: Now
Price: From Dh450,000
CREW
Director: Rajesh A Krishnan
Starring: Tabu, Kareena Kapoor Khan, Kriti Sanon
Rating: 3.5/5
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
UAE currency: the story behind the money in your pockets
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score)
Porto (0) v Liverpool (2), Wednesday, 11pm UAE
Match is on BeIN Sports
Try out the test yourself
Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer
Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer
Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer
The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania.
Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
The biog
Name: Marie Byrne
Nationality: Irish
Favourite film: The Shawshank Redemption
Book: Seagull by Jonathan Livingston
Life lesson: A person is not old until regret takes the place of their dreams
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
McIlroy's recent struggles
Last six stroke-play events (First round score in brackets)
Arnold Palmer Invitational Tied for 4th (74)
The US Masters Tied for 7th (72)
The Players Championship Tied for 35th (73)
US Open Missed the cut (78)
Travellers Championship Tied for 17th (67)
Irish Open Missed the cut (72)
SPECS
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now