Dubai's measure slipped to a new low today as traders tracked a slump across international markets prompted by increasing concern over Greece's debt crisis.
The Dubai Financial Market General Index dropped more than 1 per cent 1,532.92 points, the lowest level in a week, while the Abu Dhabi Securities Exchange General Index fell 0.4 per cent to 2,713.30 points.
US lawmakers failed to agree on cutting the deficit amid rising concern that Greece's debt crisis may spread to other European nations.
"It is all about the international markets today after a very, very poor day in Europe," said Sebastian Henin, a fund manager at The National Investor in Abu Dhabi.
Losses across equity markets in the US, Asia and Europe led to a sell-off among the biggest companies in the UAE.
Emaar Properties slipped almost 2 per cent to Dh2.98 in Dubai, Arabtec fell 1.46 per cent to Dh1.35 and bourse operator DFM Company, the only publicly traded Arab market, retreated 0.8 per cent to Dh1.18.
Mr Henin said that while investors were still waiting for the release of second quarter earnings, there was little expectation these would meet analysts' expectations.
"When talking to brokers, none of them mentioned results in the second quarter. This is not a big player right now," he said.
All other Gulf markets were down today, with the Arab world's biggest market, the Saudi Arabian Tadawul, clocking the biggest loss. It was trading 1.4 per cent lower in afternoon trading.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
What is cyberbullying?
Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.
Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.
Parents should watch out for behavioural changes in their children.
When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
