Investors held back from trading this morning ahead of planned protests in Saudi Arabia over the weekend.
The Dubai Financial Market was trading flat as it slipped 0.07 per cent to 1,442.29 points and the Abu Dhabi Securities Exchange was up marginally at 0.2 per cent to 2,611.82 points.
Volume of traded shares on both markets was thin as investors remained on the sidelines ahead of a "Day of Rage" in Saudi Arabia tomorrow, which is expected to feed into markets when the Tadawul exchange re-opens on Saturday.
Saudi Arabia's Tadawul stock market ended the week up 0.6 per cent at 6108.67 on Wednesday. The benchmark index has now added about 15 per cent this week, after a 13-session losing streak saw it lose about 20 per cent. The Tadawul is closed today.
But some blue-chip companies that have retreated in the last month since the onset of turmoil in the Arab world, continued to benefit from investor interest.
In Abu Dhabi, Etisalat, the UAE's biggest company by market capitalisation, rose 0.45 per cent to Dh11.2 this morning as nearly 2 million shares changed hands.
But Aldar Properties fell 2.26 per cent to Dh1.3 at the opening bell.
Brent crude rose 0.3 per cent to $116 a barrel after oil industry infrastructure was bombed in Libya, inflicting what could be longer-term damage on the country's exporting capacity. It is the 8th largest producer of oil in the world.
Key 2013/14 UAE Motorsport dates
October 4: Round One of Rotax Max Challenge, Al Ain (karting)
October 1: 1 Round One of the inaugural UAE Desert Championship (rally)
November 1-3: Abu Dhabi Grand Prix (Formula One)
November 28-30: Dubai International Rally
January 9-11: 24Hrs of Dubai (Touring Cars / Endurance)
March 21: Round 11 of Rotax Max Challenge, Muscat, Oman (karting)
April 4-10: Abu Dhabi Desert Challenge (Endurance)
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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UAE currency: the story behind the money in your pockets
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The flights
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
