Dubai’s stocks retreated the most in more than two years, the worst-performing equity market in the world today, ahead of Arabtec Holding Co. (ARTC) financial results and on concern over the success of Greece’s debt swap.
Arabtec, the biggest United Arab Emirates construction company that’s estimated to report a 57 percent drop in 2011 profit, slumped 9.9 percent. Dubai Financial Market PJSC (DFM) fell the most in more than seven weeks. The DFM General Index (DFMGI) slid 4.8 percent, the most since January 2010 and was the biggest daily decliner among 93 global indexes tracked by Bloomberg, to 1,607.77 at the 2 p.m. close in the emirate. Abu Dhabi stocks decreased 2.2 percent, the most since Aug. 7.
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