#Dubai index tracks global shares higher, #AbuDhabi falls | Reuters #UAE

Dubai index tracks global shares higher, Abu Dhabi falls | Reuters

Dubai's stock index closed higher on Friday, following global equities over hopes of a subdued U.S. payrolls number later in the day, though Abu Dhabi shares bucked the trend.

MSCI's All-Country stock index (.MIWD00000PUS) was 0.2% higher, while in Europe the STOXX 600 index (.STOXX) rose 0.7%.

U.S. job growth likely slowed moderately in September, according to analysts' forecasts, with non-farm payrolls expected to increase by 170,000 jobs after rising 187,000 in August.

Dubai's benchmark index (.DFMGI) jumped 0.5%, boosted by gains in financial and utilities sector stocks. Dubai's largest lender, Emirates NBD Bank (ENBD.DU), advanced 1.7% and Emirates Central Cooling Systems Corporation (EMPOWER.DU) gained 2.2%.

Among the winners, BHM Capital Financial Services (BHMCAPITAL.DU) surged 14.6% after EIH Financial Services acquired a 66.97% stake in the company from Jordan Kuwait Bank (JOKB.AM).

Meanwhile, Abu Dhabi's main index edged 0.1% lower, weighed down by a 1.8% decline in each of Emirates Telecommunications Group (EAND.AD) and state-run Adnoc Gas (ADNOCGAS.AD).

Brent crude was up 0.1% or $0.12 to $84.19 a barrel by 1154 GMT.

Separately, Abu Dhabi National Oil Company (ADNOC) said on Thursday it had awarded contracts worth about $16.94 billion for a gas project that aims to operate with net zero carbon dioxide emissions, adding it would be the first in the world to do so.

Abu Dhabi's index could see additional price corrections if oil prices continue to decline, said Hani Abuagla, Senior Market Analyst at XTB MENA.

#Oman's OQ Gas Networks expected to price IPO at top of range | Reuters

Oman's OQ Gas Networks expected to price IPO at top of range | Reuters

Oman's OQ Gas Networks (OQGN), the pipeline business of state oil giant OQ, is expected to price its $771 million initial public offering (IPO) at the top of the marketed range, according to terms seen by Reuters.

Orders below 140 Omani baisas ($0.36) per share risk missing out on the deal, one of the banks on the transaction said in a message to investors seen by Reuters. Books were oversubscribed multiple times at this level, and will close on Monday, it said.

Three anchor investors have already committed to taking 10% each of the offering at the top end of the range, the company said last month.

These are Saudi Omani Investment Company, a unit fully-owned by Saudi Arabia's Public Investment Fund; Falcon Investments, a subsidiary of the Qatar Investment Authority; and Fluxys International.

OQ is selling a 49% stake, equivalent to 2.12 billion shares, in its gas pipelines business between 131 and 140 Omani baisas per share.