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UAE bourses close mixed

The telecommunication, banks and investment indices gained 0.4 per cent to 815.53, 0.36 per cent to 2,606.79 and 0.33 per cent to 5,651.80, respectively. No indices had dropped at the Dubai Financial Market (DFM) General Index, although the materials and common staples remained flat.

Arab Insurance Group led the gainers with a rise of 6.2 per cent to Dh3.08, followed by Dubai Islamic Insurance with an increase of 2.15 per cent to Dh26.05.

The other gainers were Emirates Bank Int., which climbed 1.1 per cent to Dh9.25; DFM Co., the only publicly traded stock exchange in the region, which rose 0.65 per cent to Dh3.09; and Dubai Islamic Bank, which advanced 0.5 per cent to Dh10.05.

Gulf General Investments led the losers with a slump of 1.12 per cent to Dh7.90. Gulf Navigation Holding slipped 0.78 per cent to Dh1.27, Amlak Finance dropped o.59 per cent to Dh3.33, and Arabtec Holding declined 0.34 per cent to Dh5.86.

Al Buhaira National Insurance Co. trailed all other companies listed on the Abu Dhabi Securities Market (ADSM) Index with a fall of 9.89 per cent to Dh7.20.

The other big losers were Ras Al Khaimah Ceramic Co., which dropped 5 per cent to Dh4.75; Finance House, which declined 3.8 per cent to Dh7.60; and Investb, which slumped 3.4 per cent to Dh2.84.