Thursday, 29 March 2012

MIDEAST STOCKS-UAE shares dip on risk-aversion; most bourse down - Yahoo! News UK

A negative global backdrop weighed on United Arab Emirates bourses on Thursday as risk-averse investors reduced positions, and most other regional markets also ended lower.
Dubai's index retreated 2 percent, giving back Wednesday's gains but it remains 21.8 percent up year-to-date.
"We're seeing a high-correlation with global markets and sentiment," said Rami Sidani, Schroders Middle East head of investment.
"Dubai outperformed regional markets yesterday (Wednesday) and, on days of negative global sentiment, investors here book profits."

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