UAE stocks’ performance was mixed on Monday, as oil prices held steady and European shares traded slightly higher on cautious optimism ahead of first-quarter earnings season.
Brent crude futures built on Friday’s gains, trading 1 per cent higher at US$42.35 a barrel late on Monday afternoon.
The Euro Stoxx 50 was up 1 per cent at 2,942.11 on Monday afternoon, ahead of first-quarter earnings from big European names including Tesco and Sodexo, as well as Alcoa in the US.
Abu Dhabi’s headline index rose by 0.2 per cent to 4,390.98, thanks to gains from FGB and Agthia.
Aldar Properties rose 1.4 per cent to Dh2.81, after the developer announced its Dh6bn Yas Acres residential commercial project on Yas Island.
Dana Gas, which rose by 11.1 per cent on Sunday to an eight-month high, declined 6.6 per cent on Monday to 65 fils.
The Dubai Financial Market General Index ended a choppy day 0.2 per cent lower at 3,423.91, dragged down by big names including Emaar Properties and DIB.
Deyaar Development was the pick of a handful of gainers, rising by 3 per cent to 67 fils on the stock’s busiest day of trading in over a month.
Oman’s Muscat Securities MSM 30 Index was the Gulf’s best performing bourse, closing up 0.5 per cent.
jeverington@thenational.ae
Follow The National's Business section on Twitter
