UAE shares again managed to avoid the heavy losses of their emerging market counterparts yesterday.
The Dubai Financial Market General Index was dragged down by Emaar Properties, closing down 0.3 per cent at 4,041.39, its lowest level in a month.
Emaar, the heaviest weighted stock on the DFM, lost 0.9 per cent at Dh7.70, the lowest close since mid-April.
Drake & Scull continued to decline after a meteoric rise on Thursday and Sunday, falling 2.2 per cent to 82.1 fils.
Shuaa and Amlak were among a handful of gainers, closing up 1.3 per cent and 0.7 per cent, respectively.
The Abu Dhabi Securities Exchange General Index dipped 0.5 per cent to 4,742.54, led down by Etisalat, FGB and NBAD.
Elsewhere in the region, Emaar Misr, an Egyptian subsidiary of Emaar Properties, sank lower on its third day of trading, as Egypt’s headline share index ended in the red for its fifth day in a row.
Shares of Emaar Misr, which started trading in Cairo on Sunday, fell 2.2 per cent to Dh3.47, 8.7 per cent below the listing price, while Egypt’s stock market closed down 1.5 per cent to 7,752.94.
jeverington@thenational.ae
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