AIRLINK 173.79 Increased By ▲ 3.22 (1.89%)
BOP 11.36 Increased By ▲ 0.18 (1.61%)
CNERGY 8.64 Increased By ▲ 0.23 (2.73%)
CPHL 101.64 Increased By ▲ 1.91 (1.92%)
FCCL 46.94 Increased By ▲ 0.34 (0.73%)
FFL 15.39 Increased By ▲ 0.24 (1.58%)
FLYNG 27.79 Increased By ▲ 0.24 (0.87%)
HUBC 143.75 Increased By ▲ 5.97 (4.33%)
HUMNL 12.99 Increased By ▲ 0.07 (0.54%)
KEL 4.52 Decreased By ▼ -0.02 (-0.44%)
KOSM 5.76 Increased By ▲ 0.40 (7.46%)
MLCF 62.33 Decreased By ▼ -0.07 (-0.11%)
OGDC 212.02 Decreased By ▼ -0.14 (-0.07%)
PACE 5.47 Increased By ▲ 0.05 (0.92%)
PAEL 47.07 Decreased By ▼ -0.11 (-0.23%)
PIAHCLA 18.08 Decreased By ▼ -0.40 (-2.16%)
PIBTL 10.86 Increased By ▲ 0.50 (4.83%)
POWER 12.26 Decreased By ▼ -0.07 (-0.57%)
PPL 171.28 Increased By ▲ 1.68 (0.99%)
PRL 35.88 Increased By ▲ 0.03 (0.08%)
PTC 23.36 Increased By ▲ 0.27 (1.17%)
SEARL 96.96 Increased By ▲ 0.70 (0.73%)
SSGC 41.71 Increased By ▲ 2.19 (5.54%)
SYM 14.15 Increased By ▲ 0.31 (2.24%)
TELE 7.10 Decreased By ▼ -0.05 (-0.7%)
TPLP 9.96 Decreased By ▼ -0.07 (-0.7%)
TRG 63.89 Increased By ▲ 0.41 (0.65%)
WAVESAPP 10.02 Increased By ▲ 0.03 (0.3%)
WTL 1.33 Increased By ▲ 0.02 (1.53%)
YOUW 3.72 Increased By ▲ 0.06 (1.64%)
BR100 12,447 Increased By 142.3 (1.16%)
BR30 37,919 Increased By 504.1 (1.35%)
KSE100 116,390 Increased By 1536.7 (1.34%)
KSE30 35,696 Increased By 479.1 (1.36%)

Stock markets in the United Arab Emirates ended mostly subdued on Friday as investors held a cautious stance ahead of a key U.S. jobs data, which could likely shape the size and pace of the Federal Reserve’s interest rate cuts.

Monetary policy in the six-member Gulf Cooperation Council (GCC), including the UAE, is usually guided by the Fed’s policy decision because most regional currencies are pegged to the U.S. dollar.

The U.S. non-farm payrolls data for August is due at 1230 GMT.

Abu Dhabi’s main share index fell 0.3%, fuelled by a sell-off across the board, including in the financial, telecoms and petrochemicals sectors.

First Abu Dhabi Bank, the country’s largest lender, shed 0.4% and telecoms firm e&, formerly known as Emirates Telecommunications, lost 1.4%.

Petrochemical company Borouge fell more than 3% as shares traded ex-dividend.

Most Gulf markets edge higher ahead of US data

Meanwhile, the initial public offering (IPO) of NMDC Energy, part of Abu Dhabi-listed NMDC Group, was more than 31 times oversubscribed when the offer closed on Thursday, state news agency WAM reported.

NMDC Energy shares are scheduled to begin trading on Sept. 11 on the Abu Dhabi exchange.

The index, however, posted a weekly gain of 1.8%.

In Dubai, the main share index closed flat but logged a fourth consecutive weekly gain. The blue-chip developer Emaar Properties fell 0.8%, while Emirates NBD Bank was up 0.3%.

------------------------------------------
 ABU DHABI     fell 0.3% to 9,448 points
 DUBAI         ended flat at 4,373 points
------------------------------------------

Comments

Comments are closed.