Dubai market declines --profit booking or halt of the rally?-continued

March 01, 2012--The local Dubai bourse showed some form of exhaustion Thursday, closing 1.64% lower at 1,702.
But losses among blue chips were not immense and market breadth turned not in deep red territory like during previous market declines, as eight shares advanced and 19 declined. Emaar Properties (off 2.85%) and Arabtec Construction (down 3.60%) weighed on the gauge. According to analysts, the sharp rise in GCC indexes (Dubai added 25% year-to-date) was mostly based on rising oil prices, among other factors, but the global research team of Bank of America Merrill Lynch warned in a market study 'World at a glance, March' released earlier today: "In some sense, the rise in oil prices feels similar to last year, when rising growth expectations were dashed by high oil prices as well. Similar to 2011, the most recent surge in oil is not the result of strong demand growth but Middle East supply conditions stemming from tensions about Iran and the Strait of Hormuz, as well as Syria. In this US election year, higher oil and gasoline prices will be a continual focus, potentially dampening sentiment and spending appetite." At the DFM, around 565m shares were traded, valued at Dhs695.7m.

Source: AME Info


Middle East ETP News
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Etisalat says it backs Mobily CEO dismissal
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Dubai investors book profits ahead of UAE national holidays
November 25, 2014--Emirates Islamic Bank gained the most,
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DP World stabilises above USD21
November 24, 2014--The FTSE NASDAQ Dubai UAE 20 index closed 0.55 per cent to reach 4,411.28 on Monday, November 24.
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Abu Dhabi listed developers weigh on market index
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SHUAA falls below AED0.85
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Qatar market drops despite QIA assurance on oil price irrelevance
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DP World soars on Jebel Ali takeover plans, London delisting plans
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November 12, 2014--The Abu Dhabi securities exchange general index ADXGI lost 0.10 per cent to 4,393.36 points on Wednesday, November 12.
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DEPA shares bounce back
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BlackRock eyes Saudi exchange-traded fund ahead of market liberalisation
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Qatar Exchange closes friendly
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Etisalat shares whether the storm
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Bahrain Bourse opens post-Ashura trading with losses
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Aafaq-Islamic Finance, a UAE-based leading Sharia'a-compliant financial institution, has carried out its first transaction on the NASDAQ Dubai Murabaha Platform, which provides Islamic financing services to a rapidly growing number of individual and institutional customers.
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Abu Dhabi blue chip shares keep market momentum up
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Dubai market yoyo trading continues
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Doha Bank advances ahead of EGM
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DP World remains stuck below $20
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Qatar market plummets two per cent
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UAE markets end rollercoaster week on weak note
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Qatari fuel giant Woqod, earns slightly more in nine-month period
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Emaar The Economic City outperforms and disappoints Saudi bourse
October 29, 2014--The Tadawul All-Share Index closed 0.8 per cent lower at 10,081.96 points, on Wednesday, October 29.
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Dubai market gives up early advances again
October 29, 2014--Like in the previous days, the DFM General Index DFMGI opened more than one per cent higher, but eventually lost steam and finished 0.10 per cent lower at 4,622.11 points on Wednesday, October 29.
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