Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE equities fall on official warning  Join our daily free Newsletter

MENAFN - Khaleej Times - 09/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The dubai financial market (dfm) benchmark general index dropped by 2.

the dubai financial market general index fell 2.5 per cent to 4972 points on sunday. — kt file photo

uae stocks on sunday recorded bearish activity led by property stocks on the uae central bank warning on the country’s property market.

the dubai financial market (dfm) benchmark general index dropped by 2.5 per cent to 4972 points. all property stocks at the dubai bourse closed in negative territory led by the biggest listed building contractor arabtec holding which tumbled by 6.7 per cent followed by drake & scull five per cent down deyaar development dropped by 2.96 per cent union properties fell by 2.54 per cent and property giant emaar properties lost nearly two per cent. emaar share price recorded more than 40 per cent appreciation in 2014.

in abu dhabi the adx benchmark index also declined by 1.14 per cent to 4997.86 points led by property stocks. aldar properties trading volume leader of the day decreased by 2.55 per cent with 197 million shares transactions. eshraq properties second in terms of trading volume also tumbled by 3.33 per cent.

the detailed central bank report said that average rental yields in abu dhabi and dubai had fallen below historical averages as property prices rose indicating that the market may be overheating.

“the central bank report could be a catalyst for profit taking but the main driver is that valuations are on the generous side and fundamentals need to catch up. “as a result the market is susceptible to short term volatility or negative news” yaser abushaban executive director of asset management at emirates investment bank told bloomberg.

at dfm real estate index dropped by 3.38 per cent or 439 points. the dubai bourse recorded total 10302 trades. its trading volume touched nearly 540 million shares worth dh1.58 billion. arabtec was volume leader with 121 million shares transactions followed by union properties 90 million shares and drake & scull 70 million shares.

while adx real estate index fell by 2.6 per cent. total trades crossed 2810 mark. trading volume of 144 million recorded valuing dh412 million.


 


Khaleej Times




  MENA News Headlines
 Sep 18 2014 - Kuwait- Foreign missions laud Humanitarian LeaderArab Times
(MENAFN - Arab Times) KUWAIT CITY Sept 17 (KUNA): His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received on Wednesday heads of diplomatic missions who expressed congratulations on his ...

 Sep 18 2014 - Austrian traffic cop has crap dayArab News
(MENAFN - Arab News) VIENNA: A traffic cop in Austria got more than he bargained for after a booby trap covered him head-to-toe in manure as he was trying to catch people speeding police said on ...

 Sep 18 2014 - Al-Hilal poised to make ACL finalArab News
(MENAFN - Arab News) RIYADH: Al-Hilal coach Laurentiu Reghecampf has warned his players not to get ahead of themselves after they put one foot in the Asian Champions League final with a 3-0 victory ...

 Sep 18 2014 - Top-seed Kerber reaches Pan Pacific quartersArab News
(MENAFN - Arab News) TOKYO: Top-seeded Angelique Kerber of Germany beat Ukraine's Elina Svitolina 6-4 6-4 Wednesday to reach the quarterfinals of the $1 million Pan Pacific Open in Tokyo.Kerber the ...

 Sep 18 2014 - Qatar aim to soar high in IncheonThe Peninsula
(MENAFN - The Peninsula) Khalil Al Jabir is a pragmatic man. Not for him the fancy talk or self-importance officials in his capacity are often prone to. Instead, he prefers to go about his business ...

 Sep 18 2014 - Qatar- Ezdan, Mazaya to be included in QE indexThe Peninsula
(MENAFN - The Peninsula) Ezdan Holding and Mazaya Qatar will replace Al Khaliji Commercial Bank and Al Meera in Qatar Exchange (QE) index. Ezdan Holding joins QE index having recorded a share ...

 Sep 18 2014 - Top Saudi clerics warn against joining jihadistsThe Peninsula
(MENAFN - The Peninsula) Saudi Arabia's top religious body yesterday warned Muslims against joining militant groups, saying their "deviant doctrine" has no place in Islam.The Council of Senior Ulema, ...

 Sep 18 2014 - IS wants to kill humanity, says RowhaniThe Peninsula
(MENAFN - The Peninsula) Iranian President Hassan Rowhani denounced Islamic State's beheading of innocent people, saying the militant group wants to "kill humanity," NBC News said in excerpts of an ...

 Sep 18 2014 - Iraqi army attacks IS militants in three citiesThe Peninsula
(MENAFN - The Peninsula) Iraqi forces launched an intense military operation against Islamic State insurgents in three cities in central Iraq yesterday, fighting to regain control of lost ground, ...

 Sep 18 2014 - UN envoy visits Houthi areaThe Peninsula
(MENAFN - The Peninsula) United Nation's special envoy to Yemen, Jamal Benomar, arrives in Saada, the stronghold of the Shia Houthi movement, yesterday. At least 20 people were killed when Shia ...

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help