Ajman Bank's shares declined by 2.4 per cent.
Ajman Bank's shares declined by 2.4 per cent.

Markets

Stocks extend losses

UAE shares yesterday extended their losses for the second consecutive session this week as property and financial services stocks continued to declin

Sarmad Khan
Sarmad Khan

February 23, 2010

DUBAI // UAE shares yesterday extended their losses for the second consecutive session this week as property and financial services stocks continued to decline. The main measures for both Dubai and Abu Dhabi each closed 0.1 per cent lower, while share markets elsewhere in the region ended trading mixed. Emaar Properties eased yesterday by 0.1 per cent, while Ajman Bank and Dubai Financial Market (DFM) both pulled down the index with declines of 2.4 per cent and 1.3 per cent respectively.

Gulf General Investment Company was among the day's major losers, retreating 4 per cent. The DFM General Index closed at 1,622.01. "People are staying in the wings and the weakness in trade is continuing from last week. We expect this pattern to continue in the short term," said Ayman el Saheb, the head of operations at Darahem Financial Brokerage in Dubai. "Every good news investors get is mitigated by bad influences like Dubai's debt restructuring," he said. The Abu Dhabi Securities Exchange General Index ended the day at 2,753.17.

Sorouh Real Estate retreated 1.8 per cent, while Waha Capital ended trading 2.3 per cent lower. Aabar Investments declined 0.4 per cent. Saudi Arabia's Tadawul All Share Index extended its rally for a ninth day as it posted a gain of 0.1 per cent. Muscat shares fell 1.04 per cent, the biggest loss among the GCC bourses. On the positive side, Bahrain shares posted a gain of 1.6 per cent, while Kuwait advanced 0.3 per cent and Qatar firmed 0.1 per cent.

skhan@thenational.ae

The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now