Dubai's Worst-Performing Stocks Indicate Mounting Local Woes - Bloomberg:
Contractors, retail operators, theme parks and financial-services companies are among those that exemplify some of the pillars of Dubai’s economy. But they’re also the biggest losers in its stock market this year.
Shares of Drake & Scull International PJSC, Marka PJSC, DXB Entertainments PJSC and Amlak Finance lost at least 47 percent so far in 2018, more than twice the average of the main local stock index, which is headed for its worst performance in a decade.
Biggest Losers
Four biggest decliners in Dubai's market have fallen at least 47% Source:
The variety of sectors in the group of laggards indicates that the concerns aren’t necessarily tied to one specific industry. A slowdown in activity in the oil-rich region, an oversupply in Dubai’s residential real-estate market and surging cost of living and doing business are some of the factors crippling hopes that a recovery is on the way.
Contractors, retail operators, theme parks and financial-services companies are among those that exemplify some of the pillars of Dubai’s economy. But they’re also the biggest losers in its stock market this year.
Shares of Drake & Scull International PJSC, Marka PJSC, DXB Entertainments PJSC and Amlak Finance lost at least 47 percent so far in 2018, more than twice the average of the main local stock index, which is headed for its worst performance in a decade.
Biggest Losers
Four biggest decliners in Dubai's market have fallen at least 47% Source:
Bloomberg *As of Nov. 21
The variety of sectors in the group of laggards indicates that the concerns aren’t necessarily tied to one specific industry. A slowdown in activity in the oil-rich region, an oversupply in Dubai’s residential real-estate market and surging cost of living and doing business are some of the factors crippling hopes that a recovery is on the way.
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