Aldar Properties was the most actively traded stock on the Abu Dhabi Securities Exchange after the company posted its full year results.
Abu Dhabi's biggest developer closed 3.2 per cent lower to Dh1.81. The company announced a loss of 12.65bn for last year, compared with a profit for Dh827.4m the year earlier. Shares of Aldar initially declined 3.2 per cent at the open and were trading 1.8 per cent lower mid day.
"The loss was well flagged to the market," said Chet Riley, an analyst at investment bank Nomura in Dubai. "To institutional investors who are actively following the company, they were already very aware what was going on through disclosures Aldar had made to the market," he said.
Sorouh Real Estate declined 2.1 per cent to Dh1.38 a share. The Abu Dhabi Securities Exchange General Index added 0.1 per cent to 2709.13.
In Dubai, Air Arabia was the most actively traded stock. The Sharjah-based budget airline declined 1.5 per cent to 81 fils a share. Drake and Scull International, the emirate's second biggest airline, gained 2.8 per cent to Dh1.10.
The Dubai Financial Market General Index closed down 0.2 per cent to 1602.83.
Elsewhere in the region, Kuwait's measure remained unchanged at 6758.80. Bahrain's index also remained unchanged at 1467.08. Oman's index added 0.1 per cent to 6936.05. Qatar's bourse declined 0.2 per cent to 8917.29. The Saudi Tadawul All Share Index remained unchanged at 6608.11.
