DFM Dips 0.59%, NBD Dives

The Dubai Dubai Financial Market (DFM) fell 0.59% Wednesday, closing at 1,660.26, as Emaar (off 0.61% at Dhs3.28 or $ 0.89) and Tamweel (down 1.56% at Dhs1.26 or $0.34) weighed on the measure.

The UAE’s largest lender Emirates NBD plummeted 2.77% to Dhs2.81 ($0.77).

Earlier in the day, ENBD its first quarter profit increased 19% to hit Dhs641 million ($174.72 million). While customer loans where almost unchanged at Dhs204.1 billion ($55.63 billion), total assets were up 4% at Dhs296.7 billion ($80.87).

District cooling specialist Tabreed gained the most (up 992% at Dhs1.44 ($0.39), AMEinfo reported.

Trading volumes remained solid, as 300 million shares were traded, valued at Dhs448.5 million ($122.25 million).

 

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