{"id":577,"date":"2016-01-02T06:01:00","date_gmt":"2016-01-01T23:01:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-shares-tumble-in-first-day-trading-since-the-address-fire-in-dubai\/"},"modified":"2016-01-03T16:39:16","modified_gmt":"2016-01-03T09:39:16","slug":"emaar-shares-tumble-in-first-day-trading-since-the-address-fire-in-dubai","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-shares-tumble-in-first-day-trading-since-the-address-fire-in-dubai\/","title":{"rendered":"Emaar shares tumble in first day trading since The Address fire in Dubai"},"content":{"rendered":"


\n
\nThe UAE\u2019s stock markets were down as they opened for the first time in 2016.The Dubai Financial Market General Index opened the year 1.0 per cent lower while the Abu Dhabi Securities Exchange General Index had fallen 0.7 per cent as of noon.The kickoff of trading for 2016 came three days after a fire ravaged The Address Downtown Dubai hotel, which is owned by Emaar Properties. The developer is the most important single stock in the Dubai market, accounting for 18.8 per cent of the index\u2019s weight. At midday the company\u2019s shares were trading 2.4 per cent down. They fell 21.6 per cent in 2015, with a price range for the year between Dh8.24 a share and Dh5.13 a share.
\nEmaar\u2019s malls unit, Emaar Malls, operates company flagship The Dubai Mall, which is next to the Address hotel in Downtown Dubai. Shares in Emaar Malls began trading on October 1, 2014. They rose 1.4 per cent in 2015, but were 1.8 per cent lower at midday.Emaar Malls is the third most important stock in Dubai, accounting for 7.8 per cent of the index\u2019s weight.The company with the No 2 weighting, Dubai Islamic Bank at 15.9 per cent, was down 1.2 per cent in midday trading.
\nTraders and market observers have identified big-picture issues for the markets in 2016 including the price of oil, the scale of China\u2019s economic slump, and whether and when the Fed increases US interest rates.A note for comparative purposes: on the first day of trading in 2015, the Dubai index dropped 2.2 per cent and the Abu Dhabi index shed 1.7 per cent – indeed both indices started 2015 with three losing days in a row. The indices ended the year down 16.5 per cent in the case of Dubai and down 4.8 per cent in the case of Abu Dhabi.
\nrmckenzie@thenational.aeFollow The National\u2019s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Emaar shares tumble in first day trading since The Address fire in Dubai<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE\u2019s stock markets were down as they opened for the first time in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-577","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9j","jetpack-related-posts":[{"id":623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-shares-tumble-in-first-day-of-trading-for-2016\/","url_meta":{"origin":577,"position":0},"title":"Emaar shares tumble in first day of trading for 2016","date":"January 2, 2016","format":false,"excerpt":"\r \r The UAE\u2019s stock markets were down as they opened for the first time in 2016.The Dubai Financial Market General Index lost 0.5 per cent on Sunday, while the Abu Dhabi Securities Exchange General Index lost 0.8 per cent.The kickoff of trading for the year came three days after\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":619,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-hotel-revenue-to-be-hit-after-dubai-fire-as-developer-appoints-contractor-to-restore-the-address\/","url_meta":{"origin":577,"position":1},"title":"Emaar hotel revenue to be hit after Dubai fire as developer appoints contractor to restore The Address","date":"January 4, 2016","format":false,"excerpt":"\r \r Investors yesterday shrugged off worries over the long-term effect on Emaar Properties\u2019 outlook from the fire that broke out at its Address Downtown Dubai hotel on New Year\u2019s Eve. Emaar\u2019s share price pared losses in Dubai yesterday to end the session down 1.58 per cent, after slumping 4.4\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46869,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-chairman-hopes-for-better-year-after-tough-2016-for-dubai-developer\/","url_meta":{"origin":577,"position":2},"title":"Emaar chairman hopes for better year after tough 2016 for Dubai developer","date":"March 6, 2017","format":false,"excerpt":"\r Mohamed Alabbar, chairman of Dubai's largest listed real estate developer, Emaar Properties, said on Monday he was hoping for a better year after a tough 2016.The Arabian Gulf construction sector has slowed since mid-2014 after the slump in global oil prices forced governments to rein in spending.\"We hope 2017\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4319,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-reports-full-year-gains-despite-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":577,"position":3},"title":"Emaar reports full-year gains despite The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4321,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-earnings-hit-by-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":577,"position":4},"title":"Emaar earnings hit by The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54719,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-property-sales-lift-emaars-first-quarter-profit\/","url_meta":{"origin":577,"position":5},"title":"Dubai property sales lift Emaar's first-quarter profit","date":"May 14, 2017","format":false,"excerpt":"\r Emaar Properties' first-quarter profit were lifted by 15 per cent from a year earlier as sales spiked for new residential properties in Dubai.The Burj Khalifa developer said that its net profit was Dh1.38 billion in the first three months of the year, up from Dh1.2bn, as property sales began\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/577"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=577"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/577\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}