DUBAI, Sept 15 United Arab Emirates stock
markets fell in thin early trade on Thursday as they reopened
after long Eid al-Adha holidays.
During the time the bourses were closed between Sunday and
Wednesday, oil prices and global equities dropped steeply,
leaving few positive incentives for Gulf investors.
Many investors remained on holiday on Thursday, the last day
of the working week, and will only return to the markets next
Sunday, when other major Gulf bourses will reopen after Eid.
Dubai's main index slid 1.1 percent in the first
hour, with telecommunications operator du dropping 1.4
percent as its shares went ex-dividend. Real estate blue chip
Emaar Properties fell 2.0 percent.
One of the few gainers was GFH Financial which
climbed 2.0 percent after it said a subsidiary had sold its
remaining 18 percent stake in English football club Leeds
United, in a deal which would reflect positively on its
financials and liquidity for 2016.
Abu Dhabi's index dropped 0.6 percent in a
broad-based decline with nine of the 10 most heavily traded
stocks falling. Aldar Properties, the most active
stock, lost 1.5 percent.
(Reporting by Andrew Torchia; Editing by Robin Pomeroy)