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UAE shares fall, led by Emaar

United Arab Emirates shares declined on Sunday, led by Emaar Properties PJSC and First Gulf Bank PJSC.

  • Bloomberg
  • Published: 11:23 May 11, 2008
  • Gulf News

Dubai: United Arab Emirates shares declined on Sunday, led by Emaar Properties PJSC and First Gulf Bank PJSC.

The Dubai Financial Market General Index lost 1.1 per cent to 5,763.23 at 10:16am, falling for a second day.

The Abu Dhabi Securities Market Index retreated 0.9 per cent.

Emaar, the biggest publicly traded developer in the Middle East and Africa, dropped 2.1 per cent to Dh11.6.

First Gulf Bank, the Abu Dhabi-based lender controlled by the emirate's ruling family, slid 3.3 per cent to Dh22.3.

Oman's Muscat Securities Market 30 Index advanced 0.3 per cent, while the Kuwait Stock Exchange Index retreated 0.2 per cent.

Al Abraj Holding Co. rose 1.4 percent to 750 fils. The Kuwaiti Investment company canceled plans to boost its capital 47 per cent by selling 80 million shares to existing shareholders.

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