MIDEAST STOCKS-UAE markets close lower after country reports cases of new virus variant | Nasdaq
Stock markets in the United Arab Emirates (UAE) finished lower on Wednesday after the country reported confirmed cases of the new variant of the coronavirus.
The UAE has discovered a "limited number" of cases of people infected with the new coronavirus variant, the first confirmed cases of the more contagious version of the virus in the Gulf region.
The UAE has kept its borders and international flights open, while neighbouring Saudi Arabia on Monday extended a ban on entry to the kingdom by air, land and sea for another week.
The Dubai index .DFMGI shed 0.3%, its third fall in four sessions this week.
Dubai's largest listed developer Emaar Properties EMAR.DU was down 0.8% and Damac Properties DAMAC.DU slid by 3.7%.
DXB Entertainments DXBE.DU fell 4.4% for a seventh straight decline since state-backed property company Meraas revealed its intention to make a conditional offer to buy the remaining shares in the loss-making theme park group and take it private.
Abu Dhabi's index .ADI slipped by 0.2%, its second successive loss, dragged down by a 1.2% fall for telecoms group Etisalat ETISALAT.AD a 2.6% decline for National Bank of Umm Al Qaiwain NBQ.AD.
In Saudi Arabia, the benchmark index .TASI firmed by 0.2%, driven by a 1.3% gain by top lender National Commercial Bank 1180.SE.
Qatar's main index .QSI advanced 0.3%, buoyed by a 0.6% gain in shares of the Gulf's biggest lender, Qatar National Bank QNBK.QA.
Oil gained ground on the back of a weaker dollar, a decline in U.S. crude oil inventories and as Britain approved another coronavirus vaccine. O/R
The Bahrain index .BAX closed 1.4% down after losses in financial stocks. Alahli United AUBB.BH fell 4.5% while Ithmaar Bank ITHMR.BH shed 2.8%.
Bahrain's central bank has asked banks and financing companies to extend loan repayments for six more months from January as it moves to mitigate the effects of the COVID-19 pandemic.
No comments:
Post a Comment