United Arab Emirates stocks lower at close of trade; DFM General down 0.90%

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© Reuters.  United Arab Emirates stocks lower at close of trade; DFM General down 0.90%© Reuters. United Arab Emirates stocks lower at close of trade; DFM General down 0.90%

Investing.com – United Arab Emirates stocks were lower after the close on Wednesday, as losses in the Finance & Investment, Consumer Staples and Real Estate & Construction sectors led shares lower.

At the close in Dubai, the DFM General lost 0.90%, while the ADX General index declined 2.13%.

The best performers of the session on the DFM General were Takaful Emarat PSC (DU:TKFE), which rose 7.21% or 0.150 points to trade at 2.230 at the close. Meanwhile, AJMAN BANK PJSC (DU:AJBNK) added 2.00% or 0.020 points to end at 1.020 and Drake & Scull International PJSC (DU:DSI) was up 1.74% or 0.020 points to 1.170 in late trade.

The worst performers of the session were Gulf General Investments Company (DU:GGIC), which fell 2.61% or 0.008 points to trade at 0.298 at the close. Gulf Navigation Holding PJSC (DU:GNAV) declined 2.31% or 0.023 points to end at 0.972 and Dubai Investments PJSC (DU:DINV) was down 2.30% or 0.050 points to 2.120.

The top performers on the ADX General were Methaq (AD:METH) which rose 6.33% to 0.840, Dana Gas (AD:DANA) which was up 0.93% to settle at 1.080 and Ad Islamic Bk (AD:ADIB) which gained 0.26% to close at 3.910.

The worst performers were Union Insurance Co PSC (AD:UNIN) which was down 7.41% to 1.75 in late trade, Rak Cement Co (AD:RKCC) which lost 5.33% to settle at 0.710 and First Abu Dhabi Bank PJSC (AD:FAB) which was down 3.54% to 12.25 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 23 to 7 and 5 ended unchanged; on the Abu Dhabi, 10 fell and 5 advanced, while 10 ended unchanged.

Shares in Gulf Navigation Holding PJSC (DU:GNAV) fell to 52-week lows; down 2.31% or 0.023 to 0.972.

Crude oil for July delivery was down 0.51% or 0.34 to $66.02 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August fell 0.21% or 0.16 to hit $75.72 a barrel, while the August Gold Futures contract fell 0.08% or 1.10 to trade at $1298.30 a troy ounce.

USD/AED was unchanged 0.00% to 3.6732, while EUR/AED rose 0.13% to 4.3202.

The US Dollar Index Futures was down 0.05% at 93.78.

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