Mideast Stocks: Ex-dividend stocks weigh on UAE markets
In Dubai, the main share index slipped 0.5%, led by a 2.4% drop in Emirates Central Cooling Systems Corp and a 1.6% decline in government-owned utility firm Dubai Electricity and Water Authority, both of which traded ex-dividend.
Dubai's largest lender Emirates NBD Bank fell 0.5%, while Emaar Properties edged down 1.5%. Abu Dhabi's General Index dipped 0.2%, weighed down by a 0.3% decline in the country's largest lender, First Abu Dhabi Bank.
Aldar Properties and ADNOC Gas fell 2.9% and 2.1% respectively, as both the stock traded ex-dividend. Separately, Abu Dhabi's GDP grew 3.8% in 2024 to AED 1.2 trillion ($326.73 billion), the Abu Dhabi Statistics Centre reported.
Most Gulf markets will remain closed from Sunday through Tuesday for the Eid holiday.
ABU DHABI fell 0.2% to 9,369 points
DUBAI down 0.5% to 5,096 points
($1 = 3.6728 UAE dirham)
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Arabian Post
2 hours ago
- Arabian Post
How To Take Forward The Latest Improvement In India-China Bilateral Relations?
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ARN News Center
9 hours ago
- ARN News Center
UAE Central Bank gold reserves rise 26% in five months
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