Business | Markets

Emaar ends at 4-year closing low

Emaar Properties slipped 5.64 per cent, dragging on Dubai benchmark, which closed at its lowest level since November 2004.

  • Agencies
  • Published: 14:38 November 13, 2008
  • Gulf News

  • Image Credit: Supplied photo

Dubai: Emaar Properties slipped 5.64 per cent to end at a 4-year closing low, dragging on Dubai benchmark, which closed at its lowest level since November 2004.

Heavyweights Emirates NBD and Dubai Islamic Bank lost 4.94 per cent and 8.77 per cent respectively.

The benchmark closed 4.91 per cent lower at 2,106 points.

In Abu Dhabi, the index ended at its lowest level in almost 4 years, slipping 1.48 per cent to 2,765 points.

Taqa and Arkan Building Materials lost 6.29 per cent and 4.69 per cent respectively.

In Qatar, the main index ended at an almost 2-year closing low as most bourses around the Gulf region declined after uncertainty over Washington's plan to buy toxic assets dents investor sentiment.

Oman's main index ended 2.38 per cent down at 6,222 points, led lower by heavyweight Bank Muscat which lost 5.76 per cent.

Oman Cable Industries slipped 2.64 per cent, while National Bank of Oman ended 1.55 per cent lower.

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