UAE markets set to fall as they reopen after Eid

United Arab Emirates stock markets look set to fall in thin trade on Thursday as they reopen after long Eid al-Adha holidays.

Many investors may remain absent on the last day of the working week, and for those who return, the global environment is not positive.

Brent crude oil fell about 3 per cent for a second straight day on Wednesday and now stands just above $46 a barrel, while MSCI’s emerging market equity index has dropped 4.6 per cent since UAE bourses last traded at the end of last week.

In Dubai, telecommunications operator du may see some selling as its shares go ex-dividend on Thursday.

Other major Gulf markets remain closed until next week.