Dubai blue chips retreat slightly
Eleven gainers and 20 losers forced the Dubai Financial Market (DFM) equity index DFMGI down by 0.87 per cent to 4,842.82 points on Tuesday, August 5.
After hitting a two-month high on Monday, Emaar retreated by 1.60 per cent to AED9.99. Emaar said yesterday that it recorded a net profit of AED1.731 billion ($471 million) during the first half (H1 – January to June) of 2014. This is 41 per cent higher than the H1 2013 net profit of AED1.231bn ($335m), mostly driven by its retail and hospitality sector. Its Islamic rival Deyaar Development was the only gainer (up 2.40 per cent at AED1.28) among the most liquid shares.
Arabtec lost 2.10 per cent to finish at AED4.21. Dubai Islamic Bank finished off 0.50 per cent at AED7.82.
Approximately 380 million shares were traded, valued at AED955m.