DFM slips on profit-taking Thursday

By: Mahmoud Gamal

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index lost 8.21 points, or 0.28%, to close at 2,884.22 points on Thursday on the back of profit-taking

Dubai Investments shed 2.94% to AED 1.98, while DAMAC Properties decreased 1.95% to AED 2.13, DFM Company tumbled 1.51% to AED 0.98, and Arabtec Holding went down 1.48% to AED 1.99. Moreover, Dubai Islamic Bank (DIB) and Drake and Scull International (DSI) declined 0.4% and 0.14%, respectively.

The DFM’s trading volume reached 134.48 million shares, while the market’s liquidity amounted to AED 155.02 million.

If UAE-listed companies, which did not reveal their exposure to Abraaj yet, released statements thereof, investors’ concerns would be mitigated and rumours would fade, managing director of asset management at MenaCorp Tariq Qaqish told Mubasher.

The delay of such statements could mean that these companies have an exposure to Abraaj, the analyst added.

 

Translated by: Muhammed Abdulwakeel

Mubasher Contribution Time: 12-Jul-2018 11:54 (GMT)
Mubasher Last Update Time: 12-Jul-2018 12:11 (GMT)

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