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Emaar down after saying not part of Egypt’s new capital

Emaar down after saying not part of Egypt’s new capital
Photo Credit: Arabianeye-Reuters
Emaar
EMAAR
-0.49% 8.15 -0.04

Dubai – Mubasher:  Shares in Emaar Properties maintained their bearish performance for the second straight session on Monday, following the company’s announcement that it is not involved in Egypt’s plans to build a new administrative capital.

Emaar lost 3.46% by 10:45am UAE time, reaching the level of AED 6.700.

A total of 7.8 million shares were traded through 219 transactions at a turnover of AED 52.8 million.

The Dubai Financial Market General Index (DFMGI) lost 2.6% or 93.6 points to reach 3,520 points at the same time on Monday, pressured by the banking and real estate sectors which lost 3.32% and 3.14%, respectively.