Aldar Properties fell to its lowest price in two months even as its chief executive said the Abu Dhabi company needed no additional government support.
Aldar's stock fell almost 3 per cent on the Abu Dhabi Securities Exchange (ADX) General Index to Dh1.34, extending losses it has suffered for much of the past two weeks.
"We are in a stable condition. I don't think there will be a need," said Sami Asad, Aldar's chief executive, quoted by Bloomberg News.
Fund managers and investors said investor sentiment continued to be hurt by euro-zone debt and concerns that the UAE might not be upgraded to emerging-market status by the index compiler MSCI.
"The market here has been directly affected by Europe and America," said Ameed Kanaan, the general manager at AlJazeera Financial Services.
"I think in the next couple of weeks we'll experience increased losses, particularly if [the MSCI] upgrade doesn't happen," he said.
The ADX slipped 0.6 per cent to 2,616.29 points and the Dubai Financial Market (DFM) General Index retreated 0.2 per cent to 1,544.28.
Tabreed reduced losses it suffered at the opening of trading on the ADX as it closed 3.2 per cent lower at Dh1.22. It fell almost 5 per cent in early trading yesterday, and reached its loss limit of 10 per cent on Monday as Mubadala Development increased its stake in the company.
On the DFM, Drake & Scull International rose 1 per cent to Dh1.01 after the chief executive, Khaldoun Tabari, said the engineering and contracting company expected its revenue to increase between 25 and 30 per cent this year.
The company is also bidding for work at Abu Dhabi International Airport.
fhalime@thenational.ae
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.
