Dubai's index slumps in early trade as gloomy global sentiment weighs on Gulf Arab markets. The Dubai benchmark falls 1 percent to 1,462 points, taking its losses to 16.7 percent since March 5's 16-month high.
Deyaar Development declines 2.3 percent, Union Properties falls 1.4 percent and National Central Cooling Co (Tabreed) dips 3.3 percent.
"It has nothing to do with local micro factors and it is all about the global macro economy," says
Marwan Shurrab, vice-president and chief trader at Gulfmena Investments, highlighting fears over Greece's debt crisis.
No comments:
Post a Comment