What you need to know as UAE markets open on May 14

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Abu Dhabi National Energy Co (TAQA) swung to net profit of AED 77 million in Q1 2017, compared to a loss of AED 608 million in the same quarter last year.

2) Dana Gas PJSC, listed in Abu Dhabi, posted a net profit of AED 40 million for the first quarter of 2017, compared to AED 22 million in Q1 2016.

3) Abu Dhabi-listed food and beverage producer Agthia Group reported a net profit of AED 52.4 million for the first quarter of 2017, compared to AED 67.5 million in the same period last year.

4) Abu Dhabi National Insurance Co.’s (ADNIC) Q1 2017 net profit came in at AED 74 million, nearly double from AED 39 million in Q1 2016. 

5) Abu Dhabi-listed Waha Capital reported a net profit attributable to owners of AED 87.6 million for the first quarter of 2017, compared to net profit of AED 175.8 million in 2016.

6) Dubai-based Emirates Group posted a net profit of AED 2.5 billion for the fiscal year ending March 31, a 70 percent plunge year-on-year (YoY).

7) Oil settled slightly higher last week, with Brent crude up 0.1 percent at $50.84/bbl and WTI crude slightly higher at $47.84/bbl.

8) Asian equities closed mixed on Friday. Japan's Nikkei 225 Index was down 0.4 percent, while China's CSI300 Index gained 0.9 percent.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com