Shares in the UAE hit multi-month highs at Monday’s close, with Damac Properties and First Abu Dhabi Bank acting as catalysts.
Qatari stocks rebounded after Sunday’s sell-off, while Saudi stocks led losses across the Arabian Gulf.
The Dubai Financial Market General Index rose above technical resistance in early trade, eventually closing up 0.8 per cent at 3,602.46.
It was the index’s highest close since its April peak of 3,573 points. The next strong resistance is at 3,737-9 points, the January and February peaks.
Damac Properties once again led Dubai stocks, rising 3.8 per cent to Dh4.43, taking gains since the start of last week to more than 33 per cent.
Sanyalak Manibhandu, head of research at NBAD Securities, said there was speculation that the stock was rising as a “Trump trade in the Middle East,” given the company’s close ties to US president Donald Trump.
“Others are suggesting a special distribution, which I do not subscribe to. Lastly, there is the liquidity provision for the broker,” he said.
Islamic Arab Insurance climbed 3.4 per cent in unusually heavy trade – it was the market's most active stock.
Shares in Abu Dhabi led gains across the region, closing up 1.1 per cent at 4,575.61, their highest level since late May.
First Abu Dhabi Bank, the heaviest weighted stock on the capital’s index, closed up 2.8 per cent at Dh10.85, its highest level in a month.
Saudi Arabia's index closed TKTK per cent lower. Banque Saudi Fransi, which had added 1.4 per cent on Sunday, tumbled TKTK per cent as it went ex-dividend.
Petrochemical maker Yansab sank as much as 3.3 per cent, before closing down TKK per cent. The company reported a 54 per cent year-on-year plunge in second-quarter net profit on Monday, citing a temporary shutdown of some facilities for maintenance and higher feedstock prices, despite an increase in some sales prices.
Chemanol rose TKTKT per cent after saying it had received US$10 million from a bank guarantee after one of its marketers failed to meet contract obligations. The marketer intends to seek arbitration, Chemanol said.
The Qatar Exchange ended the day up 1 per cent, regaining ground after falling 1.3 per cent on Sunday.
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
Company%20Profile
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The Internet
Hive Mind
four stars
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
The%20specs
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The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
The%20specs
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Day 3, Dubai Test: At a glance
Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.
Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.
The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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The 10 Questions
- Is there a God?
- How did it all begin?
- What is inside a black hole?
- Can we predict the future?
- Is time travel possible?
- Will we survive on Earth?
- Is there other intelligent life in the universe?
- Should we colonise space?
- Will artificial intelligence outsmart us?
- How do we shape the future?
The biog
Name: Salvador Toriano Jr
Age: 59
From: Laguna, The Philippines
Favourite dish: Seabass or Fish and Chips
Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.
Royal wedding inspired menu
Ginger, citrus and orange blossom iced tea
Avocado ranch dip with crudites
Cucumber, smoked salmon and cream cheese mini club sandwiches
Elderflower and lemon syllabub meringue
MATCH INFO
Championship play-offs, second legs:
Aston Villa 0
Middlesbrough 0
(Aston Villa advance 1-0 on aggregate)
Fulham 2
Sessegnon (47'), Odoi (66')
Derby County 0
(Fulham advance 2-1 on aggregate)
Final
Saturday, May 26, Wembley. Kick off 8pm (UAE)
Christopher Robin
Starring: Ewan McGregor, Haley Atwell, Jim Cummings, Peter Capaldi
Three stars
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
