Dubai market eases ahead of FOMC week

31 October 2010

The Dubai Financial Market (DFM) General Index weakened 0.71% to close at 1,764.54 points. Market bellwether Emaar lost 1.53% to finish at Dhs3.85. Other real estate firms such as Deyaar Development (off 1.53% at Dhs0.329) got under selling pressure as well. Hits Telecom bucked the trend, jumping 10.89% to close at Dhs1.12. As the U. S. federal reserve will decide on interest rates the coming Tuesday and Wednesday, market participants stood mostly at the sidelines. Some 215m shares changed hands.

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