Dubai market rebound halted abruptly | Dubai market rebound halted abruptly -

Dubai market rebound halted abruptly

: Wednesday, May 28 - 2014 @ 18:40

After re-crossing the barrier at 5,000 points yesterday (Tuesday, May 27), the Dubai Financial Market General Index (DFMGI) plummeted by 3.26 per cent to hit 4,845.78 points on Wednesday, May 28. Market breadth ended deeply in the red, as three shares advanced, while 24 declined in value.

Arabtec was the most liquid share, ending down by 5.41 per cent to AED6.30. Investment bank SHUAA Capital surged by 2.96 per cent to reach AED1.36. Emaar dived by 3.94 per cent to AED9.75. Drake and Scull International (DSI) closed 3.80 per cent lower at AED1.52. Earlier in the day, DSI revealed that it has won a contract for maintenance and plumber works for the Plaza View mixed-use development in Abu Dhabi. The contract has a value of AED110 million ($30m). The project will be completed by 2016.

Gérard Al-Fil

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Wednesday, May 28- 2014 @ 18:40 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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