Abu Dhabi exchange loses 1.97%

01 June 2010

Declining oil prices pulled the energy price-sensitive Abu Dhabi Securities Exchange ADX down to 2,552.99 points (off 1.97%). Trading volumes remained low as some 72.6m shares changed hands. As oil fell from over U$74 down to around $72 in Tuesday trading. Consequently, Abu Dhabi National Energy Company TAQA weakened 0.91% and finished at Dhs1.09. Most real estate shares, such as industry bellwether Aldar Properties (off 3.77% at Dhs3.07), took heavy casualties. Abu Dhabi National Hotels bucked the bearish mood and jumped 6.67% higher, closing at Dhs3.20.

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