Dubai bourse digests Qatar diplomatic rows
The Dubai Financial General Index (DFMGI) rebounded by 1.19 per cent to 4,153.64 points on Thursday, March 6. Earlier in the day, the Qatari government said in response to the three Gulf states’ – the UAE, Saudi Arabia and Bahrain – decision from Wednesday to call back their ambassadors to Doha, that it will not retaliate by withdrawing its ambassadors from Abu Dhabi, Riyadh and Manama, but pointed out that the move had nothing to do with security issues but with developments “outside the Gulf Co-Operation Council (GCC)”. It was the first time that GCC states called back their envoys from a GCC member country in the history of the Gulf union (founded in 1981). At the DFM, Emaar was the most liquid share and closed 1.70 per cent higher at AED9.05. Emirates Islamic Bank, Emirates NBD, dived by ten per cent to AED640.35. Emirates NBD added 0.50 per cent to reach AED8.19. Trading volumes hit a multi-month low as 450 million shares were traded, valued at AED1.36 million.