New IMF warnings for global economy weigh on Dubai market
- United Arab Emirates: Wednesday, October 10 - 2012 at 13:51
A lackluster Dubai Financial Market (DFM) fell 0.20% Wednesday to close at 1,625.52. Shares of the DFM, the only publicly listed Arab bourse, slipped 0.93% to Dhs1.06 as trading volumes plummeted. Only 56m shares worth Dhs71.8m changed hands. On Tuesday, the IMF warned that the Euro zone debt crisis has worsened compared to six months ago and added that the world economic slowdown put the global financial system's recovery in limbo. Consequently, Dubai investors preferred to stay on the sidelines. At the DFM, Emaar ended down 0.30% at Dhs3.67, while Arabtec Construction gained 1.20% to hit Dhs2.55.
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