Complex Made Simple

Nervous hands leave Dubai market no chance for a rebound

The DFM General Index opened even but eventally slipped 0.33% to close at 1,437.03 points. Earlier in the day, UAE Minister of Economy Sultan Bin Saeed Al-Mansouri said he expects the country's real GDP in 2012to slow down to 3% from 4.2% in 2011, "because global risk factors have increased, with regards to the Euro zone debt crisis and a possible slowdown in China." Emaar Properties, as the most liquid share, fell 1.08% to Dhs2.76. Bank Emirates NBD bucked the downtrend, gaining 1.85% to reach Dhs2.75. Markets in Asia and Europe gave also bad input tot the DFM, as Grexit-fears and the debt-pain in Spain remain on top of traders' agenda. Some 87.6m shares were traded, valued at Dhs95.2m.