UAE Shares Slips After Interception of Houthi Attack

Published January 24th, 2022 - 09:58 GMT
UAE Shares Slips After Interception of Houthi Attack
The capital's index (.FTFADGI) dropped 0.7%. (Shutterstock)

After the recent Houthi attack that was intercepted by the United Arab Emirates, the majority of major stock markets in the country registered a drop in early trade on Monday, according to Reuters

Earlier this morning, the UAE's defence ministry announced that it has intercepted and destroyed two Houthi ballistic missiles with no casualties. This is the Houthi's second attack on UAE after last week's strike that hit a fuel depot in Abu Dhabi.

In the GCC stock markets, Dubai index was the one that registered the most losses. The emirate's main share index, the Dubai Financial Market General Index, fell by more than 2%, with the majority of the stocks trading in negative territory, CNBC reports.

The capital's index (.FTFADGI) dropped 0.7%, with the UAE's largest lender, First Abu Dhabi Bank (FAB), losing more than 1%.

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