UAE stocks fall ahead of US jobs report

About this update from Salik Company Pjsc

By Mohd EdreesStock markets in the UAE declined on Friday, as investors remained reluctant to place bets ahead of a crucial U.S. jobs report that could help shape expectations for the Federal Reserve's interest-rate path.Monetary policy shifts in the U.S. tend to have a significant impact on Gulf markets, where most currencies are pegged to the dollar.Dubai's main market DFM:DFMGI closed 0.4% lower, snapping a week-long rally, on broadly negative sentiment.Burj Khalifa Developer Emaar Properties DFM:EMAAR slipped 1.7%, while tollgate operator Salik Company DFM:SALIK shed 1.1%.Abu Dhabi's benchmark index ADX:FADGI dropped 0.3%, extending losses from the previous session, with Adnoc Gas ADX:ADNOCGAS and Adnoc Drilling ADX:ADNOCDRILL falling 1.4% and 1.9%, respectively.Separately, the Abu Dhabi National Oil Company has set the February official selling price of its benchmark Murban crude at $63.06 a barrel, it said on Friday, down from January's OSP of $65.53 a barrel.However, oil prices - a key catalyst for the Gulf's financial markets - jumped on the day on concerns of potential disruption to Iran's output and uncertainty about supply from Venezuela.Brent crude (LCOC1) was up 0.8% to $62.49 a barrel by 1130 GMT. ABU DHABIADX:FADGI fell 0.4 to 10,475 pointsDUBAIDFM:DFMGI was down 0.4% to 6,226 points

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