Dubai shares at first rose more than 1 per cent in morning trading, with Dubai Investments climbing more than 2 per cent on its profit outlook released yesterday.
But later in the morning, the index fell back, testing negative territory at around 11.00 am. The biggest loser was Arabtec with minus 1.65 per cent.
Drake & Scull gained 1.8 per cent on the announcement that it has won two new contracts worth Dh 182 million. However, the company announced today that its chief financial officer, Khalad Jarrar, is resigning today without elaborating further.
The Abu Dhabi bourse opened flat, with no significant trend in the morning session. Heavyweight Aldar was down more than 1 per cent as well as Sorouh Real Estate. The stock price of Aabar remained unchanged so far.
