What you need to know as UAE markets open on November 19

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Dubai-listed Emaar Properties said it has priced the IPO of Emaar Development at AED 6.03 per share, against an indicative range of AED 5.7 and AED 6.9 set earlier this month.

2) In an update to the ongoing legal case regarding $700 million sukuk, Abu Dhabi-listed Dana Gas said a London High Court has declared the purchase undertaking is valid and enforceable in accordance with English law. Dana Gas said it will appeal against the judgement.

3) Cargo traffic at Dubai World Central (DWC) grew 9.1 percent to 704,735 tonnes of freight during the first nine months of the year, according to operator Dubai Airports.

4) Dubai’s non-oil foreign trade increased to AED 344 billion in the third quarter of 2017, an increase of 13 percent year-on-year, driven by re-exports that rose 34 percent to AED 103 billion.

5) Oil prices closed last week with gains, rising more than 2 percent. Brent crude was up 2.2 percent to $62.72/bbl while WTI crude rose 2.6 percent to close at $56.55/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com