Complex Made Simple

All Dubai shares in the red, market index hits 2-month low

The Dubai Financial Market General Index plummeted 3.72% to 2,396.79 points on Wednesday after U. S. congress leaders signalled support for Barack Hussein Obama's request for approval of his planned strike against the Syrians. With the gauge falling further, it is proven that the recent rebound which occurred at the beginning was a false breakout. Union Properties (UP) as the most liquid share fell 3.70% to Dhs0.60. On Tuesday, the UAE's biggest leder Emirates NBD (off 0.97% at Dhs5.10) sold 10.8 % of its stake in UP. With the sale, ENBD's stake drops from 25.8% to 15%. ENBD said it does not plan to sell the remaining 15%. Some 628m shares were traded, valued at Dhs601m.