Domestic stocks fall because of escalating global trade disputes

LONDON (Reuters) – Domestic stocks closed lower on Monday, reflecting a drop in the Gulf markets following the intensification of the trade dispute between the two countries and China, pushing investors towards safer badets.

Only 11 domestic actions have increased. The Dubai market fell by 2.03% or 58.08 points, the largest daily loss in two and a half months, to close at 2799.83 points, continuing its decline for the third consecutive session.

The Abu Dhabi market lost 96.7 points, or 1.87%, to close at 5083.16 points, its lowest level since the middle of last month, and continued its decline for the fifth consecutive session with the decline in shares in banks, telecommunications, real estate and energy.

According to the economic report, the Saudi stock market fell 1.07% to close at 8465 points, the index of the Kuwaiti stock market fell 0.29% to 4,872 points and the Bahrain stock market lost 0.26% to 1544 points.

Liquidity

Liquidity stood at 430.9 million AED, distributed between 226.4 million in Abu Dhabi and 204.5 million in Dubai and 218.38 million shares traded, of which 69.1 million in Abu Dhabi and 149.27 million in Dubai, through 6,274 transactions.

Dubai Market

The Dubai market fell, the real estate sector having lost 3.13%, Emaar Properties down 4.83%, Emaar Properties down 3.25%, Emaar Development down 2.39% and Arabtec 2.3%.

The banking sector fell by 1.71% with "Dubai Islamic" by 2.09% and "Emirates NBD" by 1.7%, while the investment sector fell by 0.56% with "Dubai Investment" shares of 0.74% and "Shuaa" of 1.02%, while Dubai "of 0.11%.

The transportation sector fell by 0.72%, Gulf Navigation by 1% and Aramex by 1.15%, while Air Arabia remained stable. Emaar Properties was the most active, with net liquidity of 55.8 million AED to close at 5.06 AED. Only 5 stocks, led by Oman Insurance, rose 14.67% to 1.72 AED, while Ithmaar was the weakest of 7.98% to 0.24 AED.

Abu Dhabi Market

The Abu Dhabi market fell, with the banking sector down 1.92% under the pressure of "First Abu Dhabi" 2.21%, "Abu Dhabi Commercial" 2.04% and "Abu Dhabi Islamic" 0.99%, while the telecommunications sector fell by 2.64% with the similar decline of Etisalat.

The real estate sector fell by 1.42%, Aldar by 1.35%, RAK Properties by 2.35%, the energy sector by a very modest, Dana Gas fell by 0 , 97%, while ADNOC Distribution and TAQA grew by 1.12%. The investment sector fell by 1.37%, with Waha Capital down 0.98% and Eshraq down 2.38%.

Abu Dhabi First led the session with a liquidity rating of 54.9 million AED to close at 15.04 AED, followed by Abu Dhabi Commercial Bank with a liquidity of 44.18 million AED to close at 8.6 AED . Only 6 shares, led by Emirates Driving Company, rose 3.15% to 7.85 AED, while Methaq posted a 4.16% drop.

NASDAQ

The FTSE NASDAQ Dubai 20 index yielded 2.19%, or 72.35 points, to close at 3225.27 points after trading 301.7 thousand shares of value 4 $ 18 million in 334 transactions.

The instructions

The Securities and Commodities Authority (SCA) said that allowing investors to discuss the performance of the board of directors and its plan for the coming period was a right granted at the general meeting of the company. She advised that you always actively participate and vote on all decisions that are in the best interest of the corporation and the interests of the shareholder.

The disclosures

The Board of Directors of DAMAC Properties will meet on Thursday to discuss and approve the financial results for the period ending June 30, 2019.

The board of directors of "DXB Entertainment" has decided to postpone the decision to enter into an agreement with the parties concerned regarding the accommodation of employees and the proposed changes to the company's contracts on computer services and sponsorship of its subsidiaries for consideration at the meeting of its board of directors. Tomorrow

Waha Capital's board of directors will meet on Thursday to approve the second-quarter financial results.

Union Insurance Company reported net profit of AED 19.6 million for the first half of 2019, compared with a net profit of 9 million for the same period in 2018.

Gulf Medical Projects recorded a profit of 20.2 million AED at the end of June 2019, against a profit of 36.2 million EUR for the corresponding period of 2018.

Arkan Building Materials' profit reached AED 33.8 million at the end of the first half of 2019, compared with 15.2 million a year earlier.

Alliance Insurance reported net income of 24.82 million AED for the first half of 2018, compared with 26.45 million AED for the same period in 2018.

The Board of Directors of Islamah Arab Insurance – Salama, Unicay Foods, Digital Services, Al Salam Holding and Al Madina Finance and Investment groups will meet tomorrow to review the interim consolidated financial results for the first half of the year.

Ithmaar Holding intends to voluntarily retire from the Kuwait Stock Exchange while trading on the Bahrain Stock Exchange and the Dubai Financial Market continues.

Yusuf Al-Mulla resigned as a member of the board of Al Safwa Mubasher for non-partial time due to personal duties.

Sudan-based Al Salam Bank, listed on the Dubai and Khartoum stock exchanges, posted a profit of 45.8 million Sudanese pounds at the end of the first half of 2019, compared with 455.4 million Sudanese pounds in the same period of 2018.