Last minute Dubai share surge reverses for du

Du is down 9.92 per cent in early trading, as its shares corrected a last minute trade before the close yesterday.

The telecommunications company jumped 14.5 per cent just before the end of trading last night. However the stock has corrected this morning, and is currently trading at Dh3.28.

Outside the region, global stocks closed down amid fears about Spain's debt crisis. Yields on 10 year Spanish bonds have risen to 6.12 per cent.

The Dow Jones Industrial Average closed down 1.05 per cent on the first day of the trading week to 12,849.59. The broader S&P 500 Index ended 1.25 per cent down at 1,370.26.

It was a similar picture in Asia, with the Nikkei 225 down 1.74 per cent to 9,470.64 and the Hong Kong Hang Seng Index down 0.66 per cent at 20,563.99.

The Dubai Financial Market General Index opened down 1.37 per cent to 1,652.25.

National Cement Company weighed on the index, down 9.8 per cent. Deyaar Development was also down, losing 4.26 per cent in early trading.

The Abu Dhabi Securities Exchange General Index opened down 2.85 per cent but has since bounced back to be down 0.27 per cent at 2,505.58.

lmiller@thenational.ae

twitter: Follow and share our breaking business news. Follow us