6 things to watch as UAE markets open

Here is what you need to know as the opening bell rings in the United Arab Emirates.

1) Telecom firm Ooredoo posted a 51 percent year-on-year (YoY) decline in third-quarter net profit at QAR 370 million. The firm is listed in Abu Dhabi and Qatar.

2) Dubai Financial Market reported a net profit of AED 35.4 million in Q3-2016, compared to AED 45.4 million in the same quarter last year.

3) Dubai-listed Aramex said its net profit for the third quarter slipped 3 percent YoY to AED 72.2 million.

4) ADX-listed RAK Properties will hold its board meeting on Nov. 3 to discuss the third-quarter financial statement.

5) Oil opened the week on a low note. Brent crude was down 0.5 percent at $49.45/bbl and WTI crude fell 0.4 percent to $48.49/bbl, in Asian trading hours.

6) Asian stocks came under pressure on Monday. Japan’s Nikkei last was down 0.3 percent and China’s CSI300 index fell 0.4 percent towards closing hours.

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