Stock markets reopen in the UAE today after a two-day National Day holiday with analysts expecting more selling pressure after heavy losses last week in the wake of Dubai World’s request for a standstill on its debt payments.
The Dubai World announcement of November 25 caused declines in exchanges worldwide and spread to Gulf markets after the Eid Al Adha holiday.
As UAE stock markets reopened last Monday, the Dubai Financial Market General Index lost 7.3 per cent, the most since October last year, while the Abu Dhabi Securities Exchange General Index fell 8.3 per cent, its largest drop in eight years. Those declines continued into last Tuesday.
No comments:
Post a Comment