Shares in the UAE fell yesterday, ahead of the release of fourth-quarter results from Abu Dhabi banks.
Global equities traded uncertainly following an overnight decline in US stocks, as investor nerves were tested by uncertainties over US immigration policy.
Japan’s Nikkei closed 1.7 per cent lower yesterday, although European stocks were trading slightly higher in the late afternoon.
Oil prices remained steady, with Brent crude futures trading at around $55.49 per barrel in the late afternoon.
In the UAE, the Dubai Financial Market General Index ended the day 1 per cent lower at 3,642.85.
Emaar Properties and DIB led a sell-off of big names, closing down by 1.1 per cent and 1.5 per cent respectively.
Shares in Aramex, which rose to an 11-year high on Monday, closed down 2.7 per cent at Dh4.38 as investors booked gains.
Abu Dhabi shares closed off 0.9 per cent at 4,548.82, thanks to a 1.9 per cent drop by heavyweight Etisalat.
FGB closed 0.8 per cent lower at Dh12.95, ahead of the bank’s announcement of 16 per cent drop in net profit for the fourth quarter of 2016.
NBAD and ADCB, which reported diverging results for the fourth quarter, were suspended from trading yesterday.
Popular retail stock Eshraq Properties was the pick of just three gainers on Abu Dhabi’s headline index, closing up 8.3 per cent at Dh1.1.8.
In Saudi Arabia, the Tadawul closed 0.43 per cent lower, thanks to declines by Sabic and Al Rajhi Bank.
Shares in Qatar, meanwhile, closed down by 1.4 per cent yesterday, with QNB shares falling 1.5 per cent.
jeverington@thenational.ae
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