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12/08/2010 00:00 AST
Shuaa Capital on Wednesday declined to a 16-month closing low after the investment bank posts a second-quarter loss, while the Dubai Financial Market’s General Index, or DFMGI, dropped for a third day in four.
Shuaa fell 4.6 per cent to its lowest level since April 2, 2009 after reporting a quarterly loss of $15.4 million. Emaar Properties lowered 2.2 per cent and Union Properties fell 2.4 per cent. The benchmark index declined 0.91 per cent to 1,482.58 points, a five-week low.
Tabreed, which is based in Abu Dhabi but listed in Dubai, fell 2.1 per cent. The firm’s recapitalisation plan and support from its largest shareholder will ensure continued operations, analysts said. Abu Dhabi’s Aldar Properties declined 1.9 per cent, nearing an 18-month low on worries over the developer’s debt position. Aldar reported a quarterly loss of $129 million, much worse than forecast. Abu Dhabi’s benchmark index fell 0.52 per cent to 2,495.66 points, its lowest finish since December 9, 2009.
Reuters
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
ADX 4,608.97
23.76 (0.52
DFM 3,091.15
-9.24 (-0.30
Ticker | Price | Change |
---|---|---|
EMIRATESNBD | 10.65 | 0.05 (0.47 |
EIB | 9.50 | 0.00 (0.00 |
EMAAR | 5.61 | -0.03 (-0.54 |
EMAARMALLS | 2.16 | 0.00 (0.00 |
DIB | 5.30 | 0.00 (0.00 |
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