Local markets hunt down their global counterparts

Domestic markets fell at the end of trading yesterday, in the wake of the region's decline in semi-collective markets, following the impact of global market losses on Friday after the US Federal Reserve cut rates directors followed by the reduction of most central banks in the Gulf interest rates, as well as by the announcement of the decline of listed companies in the medium term On the sentiment of investors.

The Dubai market fell by 1.46% or 42.48 points to close at 2857.91 points with the decline in real estate, banking and investment stocks, while the Abu Dhabi market lost about 50.29 points, or 0.96%, to close at 5179.93 points under the fall in values ​​of telecommunications, banks and real estate.

The Saudi stock market dropped by 1.26%, the Kuwaiti stock market index by 0.4%, the Bahrain stock exchange by 0.06% and the Muscat stock market slightly up 0.09%.

Domestic liquidity fell below 200 million dirhams, to reach 188.5 million euros distributed between 107.98 million in Dubai and 80.6 million in Abu Dhabi, of which 126.8 million euros. shares, including 90.34 million in Dubai and 36.49 million in Abu Dhabi, with 2731 transactions. .

Raed Diab, deputy director of research at KAMCO, said local stocks had fallen after selling most stocks, especially in the banking and real estate sectors, after the Fed decided to cut its rates. interest for the first time since 2008.

Mr Diab added that markets were still expecting more financial results for the first half, which would have a significant impact on investor sentiment, pointing out that the coming period could experience a calm close to the holiday of the year. Eid and the continuation of the summer holidays.

Dubai Market

The real estate sector fell by 3.17%, Emaar Properties fell 4.04% after the quarterly profits decline, by 3.56%, Union Properties by 2.49% and Damac by 1.91%. % and Arabtec. 1.14%.

The banking sector fell by 0.44%, the National Bank of the United Arab Emirates down 0.84%, Islamic Dubai down 0.75%, the investment sector down 1.81%, the market Dubai's financials down 2.89% and Dubai Investment down 1.46%.

The transportation sector edged up 0.07%, with Aramex up 0.69%, Gulf Navigation 0.12% and Air Arabia up 0.88%.

Abu Dhabi Market

The Abu Dhabi banking market fell 1.09% for the banking sector, with a 1.41% decline for Abu Dhabi I, a 1.12% decline for the Abu Dhabi Commercial Bank. Dhabi and a 0.48% drop for the telecommunications sector, while Etisalat was losing ground. The real estate sector fell by 3.66%, Aldar by 3.9%, RAK Properties by 0.21% and energy by 0.29% and 0.16% respectively.

To sell

Foreign investors, Arab and Gulf have tended to sell for a net investment of 8.27 million AED, of which 2.8 million for foreigners, 2.35 million for Gulf investors and 3.11 million for Arabs , while citizens bought a net investment of 8.27 million.

The disclosures

The board of directors of DxP Investments will meet on Wednesday to review the interim financial statements for the first six months.

أرباح The profits of the insurance company Oman jumped 79% to 50.5 million AED at the end of the first half of 2019, against 28.25 million AED at the end of the same period of the last year.

Profits from the National General Insurance Company increased by 35% to 23.51 million AED at the end of the first half of 2019, compared to 17.38 million for the same period of 2018.

Food United Food Company (UDC) has announced a reduction of its losses of 84.13 AED for the first half of this year, compared to a loss of 210.5 thousand AED at the end of the same period of the year. last.

The board of Amanat Holding Company will discuss the second quarter financial results and the resignation of Sheikh Abdullah Khalifa Al Khalifa from the board of directors.

The UNPA Takaful East Board of Directors will review its financial statements for the second quarter of this year and the resignation of board member, Islam Nafie, on July 30.

Ⅶ Fujairah Cement Industries posted a profit of AED 7.7 million at the end of the first half of 2019, compared with EUR 11.9 million for the same period in 2018.

The board of directors of "Mineral Water Industries and Gulfa Manufacturing" meets to review the second quarter financial statements.