Abu Dhabi Shares Decline Tracking Emerging Markets; Dubai Gains - Bloomberg

Abu Dhabi Shares Decline Tracking Emerging Markets; Dubai Gains - Bloomberg:



"Abu Dhabi stocks fell, following a decline in emerging markets last week and as Aldar Properties PJSC’s (ALDAR) quarterly profit missed estimates. Dubai shares gained.



The ADX General Index (ADSMI) retreated 0.9 percent to 5,011.9 at 11:42 a.m. local time, heading for the biggest slide since July 20. Aldar, the sheikhdom’s biggest developer, slumped 1.6 percent, while First Gulf Bank PJSC (FGB), the lender owned by the emirate’s ruling family, fell 1.4 percent. Dubai’s DFM General Index advanced 0.8 percent to 4,871.54.



Emerging-market stocks posted their biggest weekly loss since March as Samsung Electronics Co. reported lower-than-estimated earnings and Argentina’s bond default reduced investor demand for riskier assets. Aldar’s second-quarter profit of 506 million dirhams ($138 million) missed analysts’ estimates of 583 million dirhams."



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