Page 26 - UNION PROPERTIES GENERAL REPORT - March 2024

Abu Dhabi's benchmark index (.FTFADGI), opens new tab dropped 0.4%, breaking two
sessions' gains, weighed down a 6.5% decline in UAE's third largest lender Abu Dhabi
Commercial Bank (ADCB.AD), opens new tab, while IHC-owned investment firm
Multiply Group (MULTIPLY.AD), opens new tab lost 2.2%.

However, National Corp For Tourism And Hotels (NCTH.AD), opens new tab jumped
2.8% after the firm offered to acquire entire stake held by Alpha Dhabi Holding's
subsidiaries in ADH Hospitality, Murban (BVI) Holding And Hill View Resorts
(Seychelles).

Alpha Dhabi Holding (ALPHADHABI.AD), opens new tab shares closed 0.4% up.

Oil price - a key catalyst for Gulf's financial markets - was 0.4% down to $85.06 a barrel
by 1116 GMT

Dubai's main index (.DFMGI), opens new tab settled 0.7% lower, snapping three

sessions of a rally, dragged down by a 1.9% decrease in Dubai Islamic
Bank (DISB.DU), opens new tab and a 5.6% drop in Emaar
Development (EMAARDEV.DU), opens new tab.

However, Union Properties (UPRO.DU), opens new tab surged 10.3%, hitting over 5-

months high after Dubai Financial Market transferred company's listing to first category
from second category.

Separately, Dubai's Parkin, which oversees public parking operations in the Emirates,
has raised 1.57 billion dirhams ($427.5 million) after pricing its IPO at the top of its

range at 2.1 dirhams per share on Thursday. Parkin is expected to start trading on
March 21.

ABU DHABI (.FTFADGI) down 0.4% to 9,221

DUBAI (.DFMGI) lost 0.7% to 4,262

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Reporting by Mohd Edrees in Bengaluru; Editing by Alison Williams

Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/markets/uae-bourses-track-global-equities-lower-2024-03-15/