Global news weighs in UAE bourses

Uncertainty in Europe and continuing tensions on the Korean conflict played on UAE markets today as property stocks fell during early trading.

As Ireland pushes to conclude talks for an international rescue package today and geo-political tensions in Korea continue, local markets were mixed in early trading as property stocks fell.

The Dubai Financial Market (DFM) General Index fell 0.4 per cent to 1,675.52 points. The Abu Dhabi Securities Exchange Index opened marginally higher to 2,757.35 points.

Emaar Properties, the builder of the world's tallest skyscraper, slipped 0.5 per cent to Dh3.63, Arabtec lost 2.2 per cent to Dh1.80 and Deyaar fell 0.6 per cent to Dh0.30.

No stocks rose at the open in Dubai.

In Abu Dhabi, National Bank of Abu Dhabi, the country's biggest bank, rose 1.2 per cent to Dh12.5. It has gained 1.6 per cent in the last two weeks.

But Aldar Properties maintained the downward trend it has experienced since June as it fell nearly 2.2 per cent to Dh0.89.