Cautious week ahead for UAE stocks

OPEC, ECB IN FOCUS

Investors are likely to be more cautious on Sunday after they reopen following a gap of three days to react to the decisions from Opec and the European Central Bank (ECB), in addition to the jobs report.

“If we believe that Opec would do nothing in terms of production, and then we have the jobs report on Friday,” Sanyalaksna Manibhandu, Manager of Research, National Bank of Abu Dhabi Securities said. “So that would be the perfect setting for a cautious tone on Sunday when the markets re-open,”

On Monday, the Dubai Financial Market General Index closed 0.35 per cent higher at 3,204.28. The Abu Dhabi Securities Exchange General Index closed 1.53 per cent higher at 4,236.39.