Abu Dhabi developers plummet amid UAE sell-out

July 20, 2014 4:29 pm

After crossing the level at 5,000 points last Thursday, the Abu Dhabi market index ADXGI fell 2.35 per cent to 4,914.95 points on Sunday, July 20. The Israeli onslaught on Gaza and the crash of the Malaysian civil airliner MH17 in the east of Ukraine weighed on the sentiment as geopolitical tensions rose amid the two aforementioned events. Developers were the big losers. Aldar, Eshraq and RAK Properties all lost more than 9.70 per cent, while only three shares advanced. Dana Gas plummeted 7.80 per cent to reach AED0.71. The share is trading only eight Fils above its one-year low.

Gérard Al-Fil