Markets down but UAE represents big potential say fund managers - The National

UAE stock-markets declined at the open on Monday, but fund managers say current valuations are attractive with the potential for big yields amid dividend payments.

EmiratesNBD, the country's biggest lender by assets, lost 2.1 per cent to Dh2.76. Aramex, the region's largest courier company, declined 2.7 per cent to Dh1.78. The Dubai Financial Market General Index lost 0.3 per cent to 1330.88 points.

"For local markets, there is an attractive payout, as last year corporate earnings rose 25 per cent on average," said Haissam Arabi, the chief executive of Gulfmena Investments in Dubai. "Prices of stocks, however, have lost more than 10 per cent."

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