Page 28 - UNION PROPERTIES GENERAL REPORT - March 2024

Bank ADCB.AD, while IHC-owned investment firm Multiply Group MULTIPLY.AD lost
2.2%.

However, National Corp For Tourism And Hotels NCTH.AD 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 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 O/R

Dubai's main index .DFMGI settled 0.7% lower, snapping three sessions of a rally,
dragged down by a 1.9% decrease in Dubai Islamic Bank DISB.DU and a 5.6% drop in
Emaar Development EMAARDEV.DU.

However, Union Properties UPRO.DU 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

(Reporting by Mohd Edrees in Bengaluru; Editing by Alison Williams)

https://www.nasdaq.com/articles/mideast-stocks-uae-bourses-track-global-equities-lower