Gulf stocks mixed; Emaar weighs on Dubai

Gulf stocks were mixed on Sunday as blue chips dragged down Dubai and Abu Dhabi, while Qatar and Kuwait rose.

Dubai’s main index fell 1.1 percent to 3,481 points as Emaar Properties lost 1.4 percent to reach AED 7.24 points. Dubai Investments was down 6.5 percent at AED 2.32.

Shuaa Capital jumped 14.7 percent to AED 1.87. The investment firm said it is set to acquire Integrated Capital and Integrated Securities from Integrated Financial Group, pending regulatory approvals.

Abu Dhabi’s general index slipped 0.5 percent to 4,436 points, with an advance-decline ratio of 7-13. Shares of 10 firms remained unchanged.

First Gulf Bank lost another 0.8 percent to reach AED 12.5. The heavyweight lender slumped last Thursday as the stock went ex-dividend.

Telecom giant Etisalat was down 0.6 percent at AED 17.75, and Aldar Properties fell 1.3 percent to AED 2.34.

Elsewhere in the region, Qatar’s QE index rose 0.2 percent to 10,491 and Kuwait’s price index gained 0.5 percent.

Saudi Arabia’s Tadawul All Share Index was last trading down 1 percent.

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