Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE equities remain bearish DFM falls 4.1%  Join our daily free Newsletter

MENAFN - Khaleej Times - 10/06/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - Khaleej Times) Shares retreated the most in three weeks on monday on dubai bourse as selling pressure continued to take its toll on market heavyweights.

investors at dubai financial market. real estate and construction companies continued to fall on monday and dragged the main index down to 4771.10 points. — kt photo

the benchmark dfm general index the world’s best performing measure in 2013 tumbled 4.1 per cent to 4771.10 points at the close on monday as real estate and construction companies continued to fall.

the biggest listed building contractor arabtec holding co which fell by 9.67 per cent to dh5.42 led the retreat involving 29 stocks in a day that saw transaction volumes crossing 465 million valued at dh1.67 billion.

union properties lost 4.78 per cent to close at dh2.19 followed by emaar the company with the largest weightingon the index shedding 3.72 per cent to close at dh9.58. other losers include drake & scull international dfm and dubai islamic bank.

monday’s fall was in the wake of a dive that saw the index breaking the 5000 level on sunday as the uae central bank warned of prospects of property market overheating. the central bank pointed out that the market appeared imbalanced with rental yields in dubai and abu dhabi falling below historical averages as real estate prices rose.

“due to the high profits that people have been able to generate over the past year you may see continuous selling pressure on the market” mohammed ali yasin managing director of nbad securities was quoted by bloomberg as saying.

“breaking the 5000 level yesterday was a negative signal” and there could be support at 4750 he said.

— issacjohn?khaleejtimes.om


 


Khaleej Times




  MENA News Headlines
 Mar 27 2017 - du celebrates the month of reading with first internal ‘duReads’ forum held exclusively for employeesMENAFN Press
(MENAFN Editorial)In celebration of March as the month of reading, du held the first ever reading forum – ‘duReads’ – in the history of the company at Al Salam Tower in Dubai. Spanning two exciting ...

 Mar 27 2017 - Sharjah Police Launches Third Online Auction for Vanity Number PlatesMENAFN Press
(MENAFN Editorial)Sharjah Police announced launching its third online auction for distinguished number plates, in collaboration with Emirates Auction, the leading auction house in the Middle East, ...

 Mar 27 2017 - Almosafer launches flight booking serviceMENAFN Press
(MENAFN Editorial)After successfully running its hotel reservations platform for several years, Almosafer has now released its new flight reservation feature for both their web and mobile app ...

 Mar 27 2017 - USA in top 10 at Rankdit countries Rank for the Third day In rowMENAFN Press
(MENAFN Editorial) While United Arab emirates stayed at the top of the list followed by Jordan , USA reached the top 10 from day one The exciting challenge to share 10 sec. disappearing videos ...

 Mar 27 2017 - Zebra Technologies’ Next-Generation Solutions Recognized with Four iF Design Awards 2017MENAFN Press
(MENAFN Editorial)Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in providing solutions and services that give enterprises real-time visibility into their operations, announced that ...

 Mar 27 2017 - Global expands and diversifies its real estate holdings in the UK with two new acquisitions in the greater Manchester areaMENAFN Press
(MENAFN Editorial)Acting on behalf of its clients, Global Investment House (Global), a regional Asset Management and Investment Banking firm headquartered in Kuwait with offices in major capital ...

 Mar 27 2017 - 80% of Professionals in the Middle East Find It Easier to Communicate with Employers via Online Job SitesMENAFN Press
(MENAFN Editorial): A new poll by Bayt.com, the Middle East’s #1 job site, entitled ‘Communication at Work in the Middle East,’ revealed that almost all respondents (91.4%) from the Middle East ...

 Mar 27 2017 - Johannesburg to host the 10th Edition Hotelier Summit AfricaMENAFN Press
(MENAFN Editorial)Africa is steadily developing into one of the world’s greatest tourist destinations, and there is a need for increased demand for Hotels across the continent. In South Africa, ...

 Mar 27 2017 - H.E Dr. Aisha Bin Bishr Represents Smart Dubai at The World Happiness SummitMENAFN Press
(MENAFN Editorial) UAE, March 26, 2017- H.E Dr. Aisha bin Bishr, Director General, Smart Dubai Office, showcased the successes of Smart Dubai over the past three years in an international ...

 Mar 27 2017 - Software AG & RIT University Dubai enter into a partnershipMENAFN Press
(MENAFN Editorial) March 26, 2017- Software AG, a global leader in enterprise architecture, IT planning, business process management, integration and big data, recently joined forces with ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help