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UAE markets decline, led by Emaar and First Gulf Bank
United Arab Emirates shares declined, led by Emaar Properties PJSC, the Middle East's biggest publicly traded real-estate company, and First Gulf Bank PJSC.
- Bloomberg
- Published: 12:04 June 22, 2008
Dubai: United Arab Emirates shares declined, led by Emaar Properties PJSC, the Middle East's biggest publicly traded real-estate company, and First Gulf Bank PJSC.
The Dubai Financial Market General Index lost 0.8 per cent to 5,511.41 at 10:43am.
The Abu Dhabi Securities Exchange General Index dropped 0.4 per cent, falling for a fourth day.
Emaar declined 0.9 per cent to Dh11. First Gulf Bank, Abu Dhabi's second-biggest bank by market value, retreated 1 per cent to Dh25.65.
The Kuwait Stock Exchange Index fell less than 0.1 per cent, while the Muscat Securities Market 30 Index gained 0.4 per cent.
Ajman Bank PJSC surged to Dh4.14 on its first trading day on the Dubai Financial Market. The UAE-based Islamic bank raised Dh550 million ($150 million) in an initial public offering in February by selling shares for Dh1 apiece.
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