Dubai’s benchmark stock index retreated from a 10-month high on speculation a rally this month was overdone and after the Dubai Financial Market PJSC posted its first full-year loss.
Dubai Financial Market, the only publicly traded Gulf Arab stock market, declined 1.7 percent. Aramex PJSC retreated the most in almost two months after the largest courier company in the Middle East cut its dividend. The DFM General Index fell 0.4 percent to 1,670.57 at 11:28 a.m. in the emirate. The measure, which entered a bull market last week, has surged 28 percent from a low in January.
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