UAE markets close lower on economic fears

(AFP)

Published Sunday, December 14, 2008

By Reuters

Markets in the United Arab Emirates close lower, paring gains from Thursday on fears the economic impact of the global credit crisis on the country could be worse than first thought.

In Dubai, Emaar Properties and Emirates NBD lead losses, falling 1.62 per cent and 2.78 per cent respectively. The index falls 1.33 per cent to 1,960 points.

Shares of Emirates Telecommunications Co (Etisalat) and National Bank of Abu Dhabi weigh in the capital, falling 1.2 per cent and 3.95 per cent respectively.

The benchmark closes 0.86 per cent down at 2,733 points.

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The page was last updated on: 14 January 2016 17:24