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UAE shares fall, led by du, First Gulf Bank: Gulf Stocks

United Arab Emirates shares declined for a second day, led by Emirates Integrated Telecommunications Co., known as du, and First Gulf Bank PJSC.

  • Bloomberg
  • Published: 11:50 July 13, 2008
  • Gulf News

Dubai: United Arab Emirates shares declined for a second day, led by Emirates Integrated Telecommunications Co., known as du, and First Gulf Bank PJSC.

The Dubai Financial Market General Index dropped 1.5 per cent to 5,269.63 at 10:40 am local time. The Abu Dhabi Securities Exchange General Index lost 1.1 per cent.

du, the UAE's second-biggest mobile-phone company, dropped 2.6 per cent to Dh5.53. First Gulf Bank, the Abu Dhabi-based lender controlled by the emirate's ruling family, fell 5.4 per cent to Dh26.5.

The Kuwait Stock Exchange Index and the Bahrain All Share Index declined less than 0.1 per cent, while the Muscat Securities Market 30 Index increased less than 0.1 per cent.

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