What you need to know as UAE markets open on July 4

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

1) Dubai-listed contractor Arabtec Holding said it has won an AED 353 million contract from Abu Dhabi National Media Council to build the UAE Pavilion at Expo 2020. In a separate statement the contractor said its subsidiary EFECO (Emirates Falcon Electromechanical Co) has won a contract for an AED 113 million project at the Dubai Creek Harbor development.

2) Abu Dhabi-listed energy firm TAQA said it has started oil production at its Atrush Block in the Kurdistan Region of Iraq.

3) Abu Dhabi-listed Dana Gas has rescheduled a telephone call with holders of its outstanding $700 million of sukuk to July 6.

4) Today is the last trading date to be entitled for Agility’s cash dividend and bonus shares.

5) GFH Financial said it has received Central Bank of Bahrain’s approval to acquire treasury shares up to 5 percent of GFH’s total issued shares through the market making arrangement with SICO. GFH Financial is listed in Dubai and Bahrain.

6) Dubai and Abu Dhabi stock markets fell by 3.6 percent and 2.5 percent, respectively, in the first half of this year, data compiled by Argaam showed.

7) The Emirates NBD Purchasing Managers’ Index for the UAE rose to 55.8 in June from 54.3 in May, on the back of faster output and new order growth last month.

8) Oil prices edged lower on Tuesday. Brent crude was last down 0.5 percent at $49.41/bbl and WTI crude fell 0.5 percent to $46.83/bbl.

9) Asian stocks were mainly negative towards closing hours. Japan’s Nikkei 225 Index was last down 0.1 percent, Hong Kong’s Hang Seng Index fell 1.1 percent, while China’s CSI300 Index declined 0.8 percent.

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