Although market bellwether Emaar Properties gained nearly six percent to reach AED10.90, the Dubai Financial Market General Index (DFMGI) fell by 0.16 per cent to close at 5,318.74 points on Wednesday, May 14. The reason behind the divergence was market breadth, which was negative, as seven shares advanced, while 24 declined in value. Air Arabia lost the most, ending down by 7.38 per cent at AED1.38. Gulf General Investments Company or GGICO dived 7.18 per cent to QAR1.81. Earlier in the day, GGICO revealed that its profit in the first quarter fell to AED22.9 million ($6.24m) from AED32.85m ($8.95m) in the same period last year.
Wednesday, May 14- 2014 @ 18:21 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.