Negative global sentiment weighs on Dubai market
- United Arab Emirates: Wednesday, October 24 - 2012 at 16:15
The DFM General Index fell 0.54% to 1,641.34 points. Disappointing quarterly results in the U. S. triggered a sell-off at Asian and European markets Wednesday. Islamic real estate developer Deyaar closed even at Dhs0.369 after reporting a total comprehensive Q3 profit of Dhs5.1m, up from Dhs0.66m in the same period last year. Investment bank Shuaa Capital gained 1.90% to hit Dhs0.596. Deyaar said "While the repercussions of the global financial crisis continue to impact the company's financial performance, Deyaar continues to move forward with its 2012 strategy, which primarily focuses on the completion of existing real estate developments through stronger resource optimization and growing sustainable income from Property Management, Facilities Management and Leasing businesses."
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