Wednesday 2 May 2012

STOCKS NEWS MIDEAST-Large-caps drag down Dubai; Abu Dhabi ends flat - Yahoo! News UK

Dubai's large-caps drag down index to a 10-week low, nearly breaking it out of its sideways trend, while      Abu Dhabi and Qatar's bourses end near-flat.
Heavyweight Emaar Properties drops 3.1 percent,trimming 2012 gains to 22.6 percent. Investors sell the stock
after being entitled to a cash dividend of 0.1 dirhams per share.
Dubai Investments falls 7.4 percent, also trading post ex-dividend date. Emirates NBD and telecom operator du shed 1.4 and 0.3 percent respectively.
The index falls 1.6 percent to 1,597 points, its lowest finish since Feb. 21. The benchmark is still up 18 percent
year-to-date.

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