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While gold and oil rise, Dubai shares dive
- United Arab Emirates: Monday, November 19 - 2012 at 13:56
As the war in Palestine/Gaza continues, the price of oil and gold increased by one percent and half a percentage point, respectively, the Dubai Financial Market dived 1.40% to 1,579.12 points. Emaar fell likewise 1.40% to Dhs3.57. Drake and Scull International or DSI plummeted 4.27% to Dhs0.718. Earlier in the day, DSI, which suffered a 93% net profit decline Q3, quoted in a statement its CFO Osama Hamdan, saying "The Q3 results reflect an overall slowdown in the construction sector in the region. Productivity rates dropped across all our projects in the GCC and Africa." Investment bank Shuaa Capital bucked the downtrend and gained 1.80% to reach Dhs0.57.
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Gérard Al-Fil, Financial JournalistMonday, November 19 - 2012 at 13:56 UAE local time (GMT+4)
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