Wednesday, December 2, 2009

The bag of Dubai loses more than 7 % after three days closed

The bag dubaití, that from the last Wednesday was closed, has quoted again today with falls near to 6 % in 1.970,20 points and with a scarce hiring volume. The market of Dubai has closed the meeting with a loss of 7,3 %, while elprincipal indicator of Abu Dhabi for his part, has collapsed 8,3 %.

dubai

This way, the markets of the emirates have quoted again for the first time from the last Wednesday, when Dubai World announced his plans of asking for a moratorium to pay his debts. The sale orders have dominated a day in which scarcely there were buyers. Both bags have lost approximately 10.000 million dollars of his value, according to AFP.

Most harmed they have been the construction sector and the financier. This way, the biggest real estate property development company of the United Arab Emirates, Emaar Properties PJSC sinks close to 10 %, the same percentage as Aldar Properties. For his part, Air Arabia has stepped back 9,62 %.

The local analysts impute this collapse to “the exaggerated informations of the western means”, according to the Hamam words to the-Shamaa, of Al-Fajr Securities, gathered by AFP. “We hope that the foreign investors should keep on going out of the market, a movement that, obviously it terrifies the local investors”, he has told and has anticipated that hope that the falls should continue tomorrow.

Also, the bag of Saudi Arabia, the most important of the countries of the gulf, will be closed until Saturday, and neither it opened today that of Kuwait, the second one of the region.

Meanwhile, the markets of the USA. have started the week with the look put in Dubai, after last week they were avoiding better the 'shock' generated by the risk of non-payment of the debt of that country. After Thursday to remain closed, day in which the panic exploded, as a result of the day of Thanksgiving, and to close with falls on Friday after a half meeting for the festivity of Black Friday, has come the moment from that the investors analyze the situation of the Arab state while the informations happen I half-close to this crisis.

Image CC of Stewie1980

He translates

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