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Dubai stock market falls to 20-week low
The Dubai stock market fell 5.8 percent to…
December 7, 2009 4:24 by kippreport
The Dubai stock market fell 5.8 percent to 1,745 points on Monday, it’s lowest in four months, with property stocks seeing the biggest drops. Shares of Emaar Properties fell 10 percent, Union Properties fell 9.3 percent and Emirates NBD fell 4.8 percent.
Analysts say that investors are still concerned about the restructuring of government-owned Dubai World, and are worried whether it will be able to repay its debts. Dubai’s index has fallen 17 percent since the emirate announced a six-month delay of Dubai World’s debts on November 25.