Geopolitical tensions weigh on regional stocks, Abu Dhabi index falls
Abu Dhabi index ends nearly a per cent lower, Dubai gains
Dubai: The main stocks index in Abu Dhabi fell by nearly a per cent on Monday as investors around the world still face uncertainty and attempt to assess risks from trade disputes to geopolitical tensions in the region.
The Abu Dhabi Securities Exchange (ADX) index ended at 5,075.30, down 0.93 per cent, as traders sold blue chips such as First Abu Dhabi Bank, Etisalat, and Abu Dhabi Commercial Bank.
Share prices of FAB fell 1.44 per cent, as Etisalat dropped 1.08 per cent, ADCB declined by 0.99 per cent, and Aldar Properties closed 0.92 per cent lower.
A note from Allied Investment Partners said that going forward, regional markets will be influenced by geopolitical conditions as well as events unfolding in global markets. Heightened tensions after a drone attack on Saudi Aramco oil facilities over a week ago have dampened sentiment in the region, especially among foreign investors.
In Dubai, the bourse’s main index rose by 0.67 per cent to end at 2,835.27.