UAE’s stock markets ended lower yesterday after the country said it detected two ballistic missiles launched from Iran, while other Gulf bourses were subdued after Washington said there were no talks with Tehran to end hostilities. Abu Dhabi’s benchmark index fell 0.9 per cent, weighed down by financial, telecom, consumer discretionary and utility stocks.
First Abu Dhabi Bank, the country’s largest lender, lost 2.8pc while Adnoc Gas declined 0.9pc.
Dubai’s benchmark index slipped 0.3pc, with most sectors in negative territory. Emirates NBD dropped 3pc while Spinneys 1961 Holding fell 1.6pc. Parking operator Parkin Company, however, rose 2.1pc after saying it had signed memorandums of understanding with three Egyptian companies to explore smart-parking projects in Egypt.
Qatar’s benchmark index extended losses for a third consecutive session, and fell 0.8pc to 9,773 points - its lowest in more than a year.
Qatar National Bank, the region’s largest lender, fell 1.8pc, while Qatar Fuel Company dropped 3.9pc.
Saudi Arabia’s benchmark index edged up 0.2pc, supported by a 2.4pc rise in National Shipping Company of Saudi Arabia and a 4.2pc gain in Seera Holding.
Outside the Gulf, Egypt’s blue-chip index fell for a third straight session, closing 1.4pc lower as most shares ended in negative territory. Commercial International Bank lost 1.8pc, while Telecom Egypt declined 2.9pc.
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