Dubai Financial Market swings to Q3 net loss
Firm reports Dh2.95 million loss.
November 7, 2010 3:41 by Reuters
Dubai Financial Market(DFM) swung to a third-quarter net loss as declining trading volumes and the inclusion of Nasdaq Dubai’s results hurt the bottom line.
The firm, the Arab world’s only publicly listed exchange, made a loss of 2.95 million dirhams ($803,400) in the three months ending September 30, it said in a statement on Dubai’s bourse website.
This compares to a profit of 71.51 million dirhams in third quarter of 2009.
When excluding Nasdaq Dubai’s earnings, DFM’s third-quarter profit was 3.8 million dirhams.
Earlier this year, DFM bought Nasdaq OMX’s one-third stake in the Nasdaq Dubai.
(Reporting by Matt Smith; Editing by Jason Benham)