Stock markets in Egypt and Tunisia retreated from highs seen earlier this week as Muammar Qaddafi's regime clung to power in Libya and prospects of a "peace dividend" from the end of civil war in the country seemed elusive.
During the day's trading, the EGX 30 Index of Egyptian shares fell 0.23 per cent to 4,631.77, while Tunisia's Tunindex fell 0.23 per cent to 4,450.80.
Both indexes had risen on Monday after Libyan rebels entered the streets of Tripoli.
Oil also rose, with Brent crude futures gaining 35 cents to $109.21 per contract, as the swift return of lost Libyan crude supplies to world markets seemed slightly further off.
While markets had seen large movements on Monday when Col Qaddafi's grip appeared to be slipping, the surge in markets had proven fragile, said Daniel Broby, the chief investment officer at Silk Invest. "It's more relief than jubilation, and that's maybe why it's not been followed through today."
Though an end to hostilities would bring an easing of the flow of refugees into Egypt and Tunisia, there were still factors in the background worrying investors, said Mr Broby.
Traders in the UAE settled in for the last few days of trading of the month, with limp volumes across both markets ahead of their closure during Eid Al Fitr.
Markets proved torpid and traded volumes slumped, with stocks on the Dubai Financial Market falling 0.4 per cent to 1,458.88, and Abu Dhabi's measure climbing 0.2 per cent to 2,577.55.
The UAE's markets are scheduled to cease trading on Tuesday to mark Eid Al Fitr, resuming the following Sunday.
ghunter@thenational.ae
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
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- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
The Disaster Artist
Director: James Franco
Starring: James Franco, Dave Franco, Seth Rogan
Four stars
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
Janet Yellen's Firsts
- In 2014, she became the first woman to lead the US Federal Reserve
- In 1999, she became the first female chair of the White House Council of Economic Advisers
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Price, base / as tested: Dh101,140 / Dh113,800
Engine: Turbocharged 1.5-litre four-cylinder
Power: 148hp @ 5,500rpm
Torque: 250Nm @ 2,000rpm
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Fuel consumption, combined: 7.0L / 100km
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Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
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COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
The Matrix Resurrections
Director: Lana Wachowski
Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick
Rating:****
The specs
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Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
