UAE Stocks: Key factors to watch

Stocks in the United Arab Emirates were flat 30 minutes into Thursday's session. Dubai’s benchmark index fell 0.44 percent to 3,046 points, while Abu Dhabi's index was down 0.08 percent to 4,073 points.

Key benchmark Brent crude fell to $30.60 a barrel, while WTI was at $26.95 a half hour before UAE markets opened. Iran’s oil minister a day earlier said Tehran is ready to discuss the current global oil market with Saudi Arabia and other OPEC members, without elaborating further.

Asian stocks were trading lower on Thursday morning, with key markets including China and Japan closed due to public holidays.

Abu Dhabi Securities Exchange

Blue chip Dana Gas rose 1.96 percent to AED 0.52, while banking giant Abu Dhabi Commercial Bank dropped 1.59 percent to AED 6.20.

Dubai Financial Market

Emaar Properties gained 1.09 percent minutes after opening. The company’s net profit for fiscal year 2015 rose 11 percent YoY to AED 4.08 billion.

Damac Properties’ shares fell 3.85 percent early to AED 2.50. The company’s net profit grew 30 percent YoY to AED 4.51 billion for fiscal year 2015.

Dubai Parks and Resorts fell 2.65 percent within 20 minutes of opening. The company’s total loss widened to AED 111 million for fiscal year 2015 compared to AED 21 million for 2014.

Write to Matthew Watson at matthew.w@argaamplus.com and

Nadeshda Zareen at nadeshda.zareen@argaamplus.com