Shares in the UAE closed slightly lower on Thursday, rounding off the quietest week of trading of the month.
Saudi shares led gains across the Arabian Gulf, despite falling oil prices.
Brent crude futures fell by as much as 2.2 per cent to US$50.68 a barrel on Thursday, as rising gasoline stocks took the shine off a report by the Energy Information Administration showing lower than expected US crude inventories.
The Dubai Financial Market General Index rounded off a quiet week, closing the day down 0.6 per cent at 3,416.71, thanks to last-minute drops by Dubai Investments and DIB.
Emaar Malls led the sell-off, falling 4.8 per cent to Dh2.57. Emirates NBD led gainers on the index, ending up 0.7 per cent at Dh8.26, its third consecutive day in positive territory.
The Abu Dhabi Securities Exchange General Index ended the day 0.6 per cent lower at 4,512.91, dragged lower by Etisalat. The telco’s shares closed down 2.2 per cent at Dh17.45, erasing gains following the release of positive first-quarter results on Tuesday.
ADCB and Aldar Properties also ended the day lower. First Abu Dhabi Bank led gainers, rising 0.5 per cent to Dh11.
For the week, the Dubai benchmark lost 1.5 per cent and the Abu Dhabi gauge lost 0.2 per cent.
Saudi stocks led on Thursday’s gains across the region, with the Tadawul closing up 0.4 per cent thanks to gains by Sabic and Al Rajhi Bank.
Alawwal Bank rose strongly for a second straight day on merger talks with Saudi British Bank, closing up 2.6 per cent. The latter’s shares trimmed on Thursday’s gains, finishing down 1.3 per cent.
The Qatar Exchange led losses across the region, finishing 1.1 per cent lower on losses by QNB and Industries Qatar.
jeverington@thenational.ae
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Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
ENGLAND SQUAD
For first two Test in India Joe Root (captain), Jofra Archer, Moeen Ali, James Anderson , Dom Bess, Stuart Broad , Rory Burns, Jos Buttler, Zak Crawley, Ben Foakes, Dan Lawrence, Jack Leach, Dom Sibley, Ben Stokes, Olly Stone, Chris Woakes. Reserves James Bracey, Mason Crane, Saqib Mahmood, Matthew Parkinson, Ollie Robinson, Amar Virdi.
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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