Abu Dhabi's benchmark stock index closed lower on Friday, dragged down by First Abu Dhabi Bank (FAB.AD) after the United Arab Emirates' largest lender sad it was no longer evaluating a possible takeover offer for Standard Chartered (STAN.L).
The index (.FTFADGI) declined 0.7%, with conglomerate Alpha Dhabi Holding (ALPHADHABI.AD) shedding 1.3%, while state-controlled integrated utility firm Abu Dhabi National Energy Company (TAQA.AD) slipped 0.6%. Shares of First Abu Dhabi Bank dropped 2.3%.
Separately, Abu Dhabi National Oil Company (ADNOC) said on Thursday it would allocate 55 billion ($14.97 billion) dirhams to support development of low-carbon solutions, new energies and decarbonisation technologies across its portfolio by 2030.
Dubai's main share index (.DFMGI) dipped 0.4%, with Sharia-compliant lender Dubai Islamic Bank (DISB.DU) down 1.1%, while blue-chip developer Emaar Properties (EMAR.DU) dropped 0.7%.
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