UAE stock markets remained mostly unchanged on Wednesday as Brent crude edged down marginally.
The Dubai Financial Market index remained flat, while the Abu Dhabi Securities Exchange gained 0.1 per cent in the day’s trading.
Brent was down 0.5 per cent to US$41.60 in afternoon trading. West Texas Intermediate also fell, declining 0.7 per cent.
The oil price has risen above $40 in recent days on optimism about a deal between Saudi Arabia and Russia to freeze output at current levels.
On the DFM, AirArabia’s stock price fell 1.6 per cent, while Gulf Navigation shares declined 3 per cent.
The mortgage broker Amlak was the day’s biggest gainer, increasing 2.5 per cent to Dh1.65 per share. Drake & Scull’s share price rose 1.3 per cent to 48 fils per share. The construction company was on Wednesday awarded a 340 million Qatari riyal contract to work on Doha’s metro project.
Union National Bank was the biggest decliner on the ADX, falling 4.5 per cent to Dh3.60 per share. Dana Gas fell 3.8 per cent, declining to 51 fils per share.
In the region, bourses in Qatar, Kuwait, Lebanon, Bahrain and Jordan all gained. The EGX30, which tracks the performance of Egypt’s 30 largest stocks, rose 0.8 per cent on Wednesday.
The MSCI Emerging Markets Index was up 0.1 per cent.
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Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
FIGHT CARD
Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)
Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)
Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)
Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)
Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)
Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)
Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)
Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)
Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)
