Home Business UAE bourses impacted by US Federal Reserve’s aggressive approach to tame inflation

UAE bourses impacted by US Federal Reserve’s aggressive approach to tame inflation

by Dubai Forum
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ABU DHABI, 22nd September, 2022 (WAM) — The Abu Dhabi bourse ended almost flat Thursday while Dubai Financial Market closed 0.775 % less, with the blue-chip developer Emaar properties closing down at AED6.290 from AED6.45 earlier on the day and Sharia-compliant lender Dubai Islamic Bank decreasing to AED12.700. DEWA likewise slipped down 1.540 percent to AED2.55.

In the capital’s bourse, which closed down 0.003 percent at 10,093.630 pts, the Abu Dhabi Ports Company was the best performer, closing 15.00% higher at AED5.980, with the National Hotels & Tourism Corporation following suit, closing favourably at AED2.350, 9.810 percent up on last closing price. In the meantime, the International Holding Company (IHC.AD), traded as ASMAK, slipped slightly down to AED358.900, Abu Dhabi Commercial Bank slid 2.590 % down to AED9.030, and Aldar Properties ended the session 1.950 percent down at AED4.530.

Globally, the Wall Street’s main indexes declined on Thursday, extending losses for a third straight session, as investors worried that the U.S. Federal Reserve’s aggressive approach to rein in inflation could trigger a recession.

WAM/Hatem Mohamed

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