Tuesday 20 December 2011

Emaar Properties lifts Dubai; Abu Dhabi extends drop - Stocks - ArabianBusiness.com

Dubai's Emaar Properties rose from Monday's three-week low after saying it signed a $1bn financing deal, helping lift the emirate's index.
Shares in Emaar climbed 2.3 percent to trim their year-to-date losses to 26.2 percent.
"[The] deal could alleviate concerns related to Emaar's short-term liquidity and reduce the overhang on the stock resulting from these concerns," EFG-Hermes said in a note.


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