#UAE markets drop after Fed officials signal March rate hike | Reuters


UAE markets drop after Fed officials signal March rate hike | Reuters
#UAE markets drop after Fed officials signal March rate hike | Reuters
Stock markets in the United Arab Emirates ended in the red on Friday, mirroring weakness in Asian peers, as more Fed policymakers signalled they would start to raise U.S. interest rates in March to combat inflation.
Dubai's main share index (.DFMGI) fell 0.4% after gains in the previous session, as Emirates NBD Bank (ENBD.DU) shed 1.1% and blue-chip developer Emaar Properties (EMAR.DU) lost 0.8%.
Abu Dhabi's index (.FTFADGI) ended flat, with conglomerate International Holding Company losing 0.3%, while telecoms operator Etisalat Group (ETISALAT.AD) rose 0.1%.
Markets in the UAE traded on their second Friday in January after they shifted to a new Monday-to-Friday working week to better align with global markets.
The UAE announced last month it would move to a Saturday-Sunday weekend from the start of 2022. read more

[Author: [email protected] (Rupert Neil Bumfrey)]


Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Uae, Fed, Reuters, Reuters Stock, Rupert Neil Bumfrey, Emaar Properties EMAR DU, International Holding Company, Emirates NBD Bank ENBD, Etisalat Group ETISALAT

Source:  http://rupertbumfrey.blogspot.com/2022/01/uae-markets-drop-after-fed-officials.html