Quotes: US 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 weighting on 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
 Oct 21 2014 - Iraqi Prime Minister Arrives in TehranQatar News Agency
(MENAFN - QNA) Iraqi Prime Minister Haider al-Abadi, heading a high- ranking delegation, arrived in Tehran on Monday evening, Iran's News Agency (IRNA) reported. This is the first visit of al-Abadi ...

 Oct 21 2014 - Official suspended as Egypt woman delivers baby outside hospitalArab News
(MENAFN - Arab News) CAIRO: An Egyptian hospital director was suspended on Monday after a video purporting to show a woman giving birth on the facility's doorstep caused an uproar among citizens ...

 Oct 21 2014 - Haniyeh's daughter 'treated in Israel'Arab News
(MENAFN - Arab News) JERUSALEM: A daughter of the leader of Hamas in Gaza was admitted to an Israeli hospital for emergency medical treatment this month after she suffered complications from a ...

 Oct 21 2014 - Insurgents kill 18 Houthis as sectarian strife spreadsArab News
(MENAFN - Arab News) SANAA: Al-Qaeda-affiliated insurgents killed 18 Shiite Houthi rebels and seized an important city in central Yemen tribal sources said on Monday in a spread of sectarian conflict ...

 Oct 21 2014 - Aleppo siege looms as Assad regime gains groundArab News
(MENAFN - Arab News) DAMASCUS: The Syrian regime Army has reportedly advanced in the rebel-held areas around Aleppo in a bid to fully besiege the northwestern city opposition sources and activists ...

 Oct 21 2014 - Kurds hail US arms drop as Turkey boosts Kobane battleArab News
(MENAFN - Arab News) MURSITPINAR: Kurds battling militants for the Syrian border town of Kobane welcomed a first US airdrop of weapons Monday as neighboring Turkey said it will help Iraqi Kurds to ...

 Oct 21 2014 - Rosewood Corniche introduces new market style weekend lunchArab News
(MENAFN - Arab News) Residents and weekend visitors in Jeddah are in for a new lunchtime treat with the introduction of a new midday dining concept at the Rosewood Corniche.The Rosewood Corniche ...

 Oct 21 2014 - Etihad Airways Alitalia unveil two Expo Milano aircraftArab News
(MENAFN - Arab News) Alitalia Italy's leading carrier and Etihad Airways the national airline of the UAE have unveiled two aircraft in a Expo Milano 2015 livery to mark their co-sponsorship of the ...

 Oct 21 2014 - NEC hosts event for Saudi business leadersArab News
(MENAFN - Arab News) The technology innovation Japanese company NEC gathered top Japanese firms and Saudi business leaders for a BusinessConnect Evening hosted by Matahiro Yamaguchi consul general of ...

 Oct 21 2014 - Flynas official carrier for 4th International Conference on Disability 1amp RehabilitationArab News
(MENAFN - Arab News) Flynas the national carrier of Saudi Arabia sponsored the 4th International Conference on Disability & Rehabilitation which was held in Riyadh on Oct. 19-21. flynas also ...

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