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DP World dives over three percent as worries over possible

 
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Kirk
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PostPosted: Thu Mar 01, 2012 7:08 pm    Post subject: DP World dives over three percent as worries over possible Reply with quote

The FTSE NASDAQ Dubai UAE 20 Index closed at 1735.70, off 1.76% from the previous close. Dubai Ports (DP) World, the world's third largest container port operator, retreated 3.17% to $11.90. DP World hit a seven-month high last Monday, but meanwhile many analysts increasingly express worries the sharp surge in GCC stock markets in the last two months might fickle due to a possible escalation in the row between the West and Iran on Tehran's nuclear energy program. "One of the challenges for markets is the rise in oil prices, Gary Dugan, CIO Private Banking at Emirates NBD, said in his weekly market commentary published Wednesday. "In the last few days oil prices have risen to a nine-month high. In our view higher oil prices are here to stay. Much has being made of the potential greater geopolitical risks but the ‘high’ oil prices are also due to an ongoing fundamental imbalance between supply and demand."

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