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Dubai Financial Market swings to Q3 net loss

Firm reports Dh2.95 million loss.

November 7, 2010 3:41 by

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)

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