Dubai market has disappointing half-year performance

30 June 2010

Those who invested in Emaar Properties at the beginning of 2010 lost twenty percent of their capital. The performance of Dubai's bellwether stock is symptomatic for the DFM, which on Wednesday ended 1.35% lower at 1,461.80 points. On a year-to-date basis the DFM (down 18.95%) posted the largest decline in the GCC. Emaar finished the first half of 2010 at Dhs3.06 (off 1.29%). Trading volumes advanced for the third consecutive day as 317.7m shares changed hands (up by a fifth compared to Tuesday). Three stocks added value, while 26 weakened. Islamic real estate developer Deyaar bucked the trend by surging 4.22%, ending at Dhs.0.321, along with Sharjah-based budget carrier Air Arabia (up 0.47% at Dhs0.856).

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