UAE shares began the week marginally higher on Sunday on a quiet day for regional equities.
Shares in Dubai traded lower in the morning before rising in the late afternoon to finish up 0.3 per cent at 3,491.46.
Sunday’s rise was Dubai’s third consecutive positive trading day, its best run since early February.
Damac Properties and Aramex led gains among big name stocks, rising 2.5 per cent and 2.6 per cent respectively.
Shares in Arabtec Holding rose 2.5 per cent to 91.5 fils, as the construction company gave notice of its annual general meeting on April 18.
Emaar Properties fell by 1.1 per cent to Dh7.22.
In the capital, the Abu Dhabi Securities Exchange General Index rose 0.1 per cent to 4,449.66.
Shares in First Abu Dhabi Bank – formed following the merger of FGB and NBAD — ended their first day of trading 1.5 per cent higher at Dh10.40.
Shares in Abu Dhabi National Energy, known as Taqa, were the other main gainer, rising 13 per cent to 52 fils. The rise came in spite of the energy firm last week reporting an annual loss of Dh19 bn after realising losses on its oil and gas assets.
Etisalat and UAB acted as a drag on the index, falling 1.4 per cent and 9.8 per cent respectively.
Shares in Saudi Arabia broke a three-day winning streak, closing down by about 0.2 per cent thanks to weaker banking stocks.
The Qatar Exchange was the only regional headline index outside the UAE to finish in the black, closing up 0.1 per cent thanks to gains by Ooredoo.
jeverington@thenational.ae
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