Page 51 - UNION PROPERTIES GENERAL REPORT - April 2024_Neat

4/16/24, 9:47 AM UAE, Gulf investors cautious after latest Middle East crisis; gold's down, Bitcoin prices regain | Markets – Gulf News
Dubai: The DFM and ADX indices dropped in early trading in reaction to the latest

Middle East crisis that unfolded over the weekend.

The DFM is down by over 1 per cent, while ADX is lower by nearly 0.6 per cent in the

first 15 minutes of the market opening after the extended Eid break.

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In Abu Dhabi, bellwethers IHC and Alpha Dhabi are trading marginally lower,

while Emaar Properties and Emaar Development were in the red by over 1 per cent in

the first 15 minutes. So was Union Properties, down 1.53 per cent. Mega-banks

Emirates NBD and DIB too have seen some declines. The main gainer in the early
session is Gulf Navigation, up 2.9 per cent.

By 10.45am, the pace of the drops was slowing down. Emaar Development is back in

positive, while Emaar Properties' slip narrowed to under 1 per cent. Analysts expect
the choppiness in the UAE and Gulf markets to continue until more clarity shows up

on the Iran-Israel flashpoint.

At the broader level, UAE and GCC investors are weighing all the pros and cons of this
unfolding geopolitics, after Iran fired missiles and drones onto Israel.

https://gulfnews.com/business/markets/uae-gulf-investors-cautious-after-latest-middle-east-crisis-golds-down-bitcoin-prices-regain-1.1713162650345 2/7