PHOTO
Investors speak in front of a screen displaying stock information at the Abu Dhabi Securities Exchange, June 25, 2014. Stringer, Reuters. Image used for illustrative purpose only.
Stock markets in the United Arab Emirates closed lower on Friday in thin trade ahead of Eid-Al-Adha holidays.
In Abu Dhabi, the index lost 0.5%, with the country's largest lender First Abu Dhabi Bank (FAB) falling 0.2%, while conglomerate International Holding Company slipped 1.6%, in its biggest decline since March 2023.
Many investors prefer to cash in holdings ahead of the Eid holiday, which lasts for a week in Saudi Arabia, Egypt and at least three days in UAE and other Gulf countries.
Dubai's main share index closed up 0.1%, as both blue-chip developer Emaar Properties and lender Emirates NBD Bank gained 0.3%. Abu Dhabi index was down 0.3% on a weekly basis while Dubai index closed flat this week.
- ABU DHABI fell 0.5% to 8,933 points
- DUBAI edged up 0.1% to 3,984 points
(Reporting by Shamsuddin Mohd in Bengaluru; Editing by Shailesh Kuber)
