Dubai’s benchmark stock index retreated the most in more than a week on investor speculation this year’s rally was overdone and before the board of Emaar Properties PJSC (EMAAR) meets to discuss a dividend payment.
Emaar, developer of the world’s tallest skyscraper, dropped 1.3 percent. Dubai Financial Market PJSC (DFM), the only publicly traded Gulf Arab stock market, declined for a third day. The DFM General Index (DFMGI) fell 1.4 percent, the most since March 7, to 1,660.47 at the 2 p.m. close in Dubai. The measure has surged 23 percent so far this year. The Bloomberg GCC 200 Index (BGCC200) rose 0.3 percent.
No comments:
Post a Comment