Dubai’s benchmark index fluctuated between gains and losses as investors sought news on fourth- quarter earnings and Dubai World’s loan restructuring.
The DFM General Index fell for the first time in four days, losing 0.7 percent to 1,816.04 at 1:17 p.m. in the emirate. The measure had gained as much as 0.6 percent earlier. Emaar Properties PJSC, the United Arab Emirates’ biggest developer, lost 2.3 percent. Arabtec Holding PJSC, the country’s largest builder, rose to the highest in a month. Abu Dhabi’s benchmark added 0.5 percent, led by Emirates Telecommunications Corp.
“There is an absence of any real news,” said Khaled Masri, a partner at Rasmala Investments LLC. “Investors are waiting for fourth-quarter earnings and news on Dubai World’s restructuring.”
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