Stock markets in the United Arab Emirates closed flat on Friday ahead of crucial U.S. employment data that could influence the Federal Reserve’s stance on interest rate hikes.
The employment data is due at 1230 GMT.
In Dubai, the main share index (.DFMGI) closed flat, after initially trading up. Dubai’s biggest lender Emirates NBD (ENBD.DU) dropped more than 1%, while blue-chip real estate developer Emaar Properties (EMAR.DU) was up 1.3%.
The benchmark index posted a 4.5% weekly gain.
Abu Dhabi’s index (.FTFADGI) also traded flat, with First Abu Dhabi Bank (FAB.AD), the country’s largest lender, easing 0.3%, while Emirates Telecommunications Group (EAND.AD) was down 0.5%.
The index was up 0.6% on a weekly basis.
Source: Reuters
