Local markets declined yesterday under the influence of volatile global markets.
European stocks rebounded during the day from Tuesday's heavy losses on fears about Spain's debt burden, as the country's debt yields fell back from 5.99 per cent to 5.58 per cent.
However, Asian stocks failed to make up previous losses and closed down for another day.
Local investors reacted negatively.
The Dubai Financial Market General Index closed the day down 0.38 per cent at 1,672.01.
The Abu Dhabi Securities Exchange General Index ended the day 0.58 per cent lower at 2,532.03. In Saudi Arabia, the Tadawul All-Share Index was trading 1.16 per cent lower at mid-session but closed 0.28 per cent higher at 7,573.28.
Analysts said the falls had been expected after the heavy sell-off on international markets the previous day.
"It makes sense. With fears over Spain, early trading in Europe was shaky. This affected trading patterns in the UAE," said Marwan Shurrab, the chief trader at Gulfmena Investments.
"The [Saudi Tadawul] Tasi index was subjected to aggressive profit taking with retail investors reducing their exposure, fearing a correction."
But Mr Shurrab said he expected a rebound in UAE markets if the European markets held up.
All the major European stocks were trading about 1 per cent or more higher in midday trading.
lmiller@thenational.ae
Match info
Australia 580
Pakistan 240 and 335
Result: Australia win by an innings and five runs
Killing of Qassem Suleimani
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
