What you need to know as UAE markets open on October 30

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

1) Dubai-listed Emirates Investment Bank posted a net profit of AED 18.94 million for Q3 2017, an increase of 48.4 percent year-on-year (YoY).

2) Abu Dhabi-listed RAK Cement Co. will hold a board meeting on Nov. 4 to discuss and approve its Q3 2017 financial statements.

3) Al Khaleej Investment, listed in Abu Dhabi, reported a net profit of AED 11.5 million for Q3 2017, compared to a profit of AED 4.2 million in the same period last year.

4) The net profits posted by 14 UAE banks during the first nine months of 2017 grew by 2.8 percent YoY to AED 21.9 billion, WAM reported.

5) Abu Dhabi's gross domestic product (GDP) grew by 6.7 percent in Q2 2017, against the corresponding period last year, according to a Statistics Centre-Abu Dhabi report. The non-oil sector contributed 70.2 percent to the emirate’s GDP during Q2, while the oil-sector accounted for 29.8 percent.

6) Oil prices were stable at the start of the week, with Brent crude slightly lower from last closing at $60.4/bbl, while WTI crude rose marginally to $53.92/bbl.

7) Asian stocks were mixed towards closing hours. Japan’s Nikkei 225 Index was last down 0.1 percent and China’s CSI 300 Index was lower by 0.3 percent, while Hong Kong’s Hang Seng Index rose 0.05 percent. 

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