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Dubai market rally halted

: Thursday, May 08 - 2014 @ 08:36

The Dubai Financial Market General Index (DFMGI) broke a four-winning streak on Wednesday, May 7, falling by 1.34 per cent to close at 5,301.94 points. The gauge hit the upper Bollinger Band on Tuesday, which is usually a sell signal. Emaar finished off 0.50 per cent to end at AED10.25. Air Arabia added another 7.48 per cent to hit AED1.58, representing a three-month high. The Sharjah-based low-budget carrier opened a second hub in Ras al-Khaima (RAK) on Wednesday after RAK Airways grounded its fleet at the start of this year. Approximately 843 million shares worth AED2.37 billion changed hands.

Gérard Al-Fil

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Thursday, May 8- 2014 @ 8:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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