Shares in the UAE fell on Monday, even as Saudi stocks continued to rally.
The Dubai Financial Market General Index rose in early trading before shedding gains to close down 0.8 per cent at 3,310.48, dragged lower by Emaar Properties.
The developer’s stock closed down 0.6 per cent at Dh6.60, while fellow big-name stock DIB ended 0.4 per cent lower at Dh5.19.
Theme park operator DXB Entertainments was the pick of a handful of big-name gainers, finishing 2.8 per cent higher at Dh1.49.
Al Ramz Corporation Investment and Development closed 14.4 per cent higher at Dh1.35, following the announcement of the launch of its new investment services division.
Shares in Gulf Navigation closed 1.9 per cent higher at Dh1.58, after the Dubai-based shipper announced it was on the brink of acquiring what it described as “a large shipping fleet”, giving no further details.
In the capital, the Abu Dhabi Securities Exchange General Index finished down 1 per cent at 4,356.98, dragged lower by Etisalat.
The telco’s shares, the heaviest weighted stock on the index, closed off 1.4 per cent at Dh17.75. Blue chips FGB and Aldar Properties also closed 1.3 per cent and 1.6 per cent lower respectively.
Dana Gas and ADCB were two of just three gainers on the index, closing up 1.9 per cent and 0.3 per cent.
In Saudi Arabia, the Tadawul closed higher for the fifth day in a row, finishing up 0.9 per cent at 6,903.85, thanks to gains by Dar Al Arkan and Sabic.
In Doha, the Qatar Exchange closed 0.5 per cent lower at 9,689.07, dragged lower by Vodafone Qatar and QNB.
jeverington@thenational.ae
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