Quotes: 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
 Oct 8 2015 - UK official says Russia making situation in Syria more dangerousKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) UK Secretary of State for Defence, Michael Fallon, called on Russia Thursday to stop supporting the regime of Bashar Al-Assad and to stop the regime from bombing ...

 Oct 8 2015 - EP calls for intØ¢'l protection for E.JerusalemKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The European Parliament called Thursday East Jerusalem to be placed under immediate international protection after a series of violent clashes have left several ...

 Oct 8 2015 - USD to drop further as profit raise postpones - analystKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The rate of the US dollar is expected to drop against the main currencies in time of weakening expectations on the raise of profit rates in the US before the end ...

 Oct 8 2015 - Israeli forces arrests 40 Palestinians in West BankKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Forty Palestinians were arrested by the Israeli force during an operation in the West Bank, said a statement by the Palestinian prisoners club Thursday.According ...

 Oct 8 2015 - Syrian Army: Russian airstrikes reduced ISIL fighting capabilitiesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Airstrikes by Russian warplanes reduced fighting capabilities of the so-called Islamic State in Iraq and Levant (ISIL) in Syria, the Syrian Armed Forces Commander ...

 Oct 8 2015 - Western, Russian intervention in Syria making matters worse - Arab LeagueKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Western and Russian intervention in Syria will not end the war and will not eliminate presence of the so-called Islamic State in Iraq and Levant (ISIL), said ...

 Oct 8 2015 - Kuwait- Light rain, dust for Thursday evening weather - forecastKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Light rain and dust is expected for the weather Kuwait Thursday's evening, said a weather forecast official.Deputy head of Kuwait weather forecast department, ...

 Oct 8 2015 - Jewish settler stabbed in JerusalemKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A Jewish man was stabbed Thursday in his upper body in Jerusalem in the third stabbing attack in just over 24 hours.Haaretz newspaper said on its website that a ...

 Oct 8 2015 - OPEC oil price up to USD 48.24 pbKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The OPEC daily basket price went up Wednesday USD 2.16 and stood at USD 48.24 per barrel (pb) compared with USD 46.08 pb the previous day, the cartel said here on ...

 Oct 8 2015 - Kuwaiti seeks Costa Rica's support to get non-Permanent UNSC seatKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A Kuwaiti Parliamentary friendship group sought Costa Rica's President Luis Guillermo Solis' support to help Kuwait obtain a non-permanent seat at the UN Security ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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