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(3 Jan 2016) LEAD-IN: The Dubai Financial Market (DFM) has suffered losses on the first day of trading in 2016. The markets closed on 3,134 points - 0.51 per cent down on opening. STORY-LINE: The sign may be welcoming, but today's trading is not what many have been hoping for. The first day of trading on 2016 has seen Dubai's markets drop. ?Opening on 3150 points, the DFM has lost 16 points or 0.51 per cent today. Emaar shares have fallen by 1.58 per cent. The developer stock values have fallen as much as 4.4 percent in early trade, three days after a fire engulfed the Address Hotel Downtown - one of its properties - on New Year's Eve. The developer has said the fire should have "no material impact" on the company because the building is covered by insurance. Shares in Emaar Malls, which account for 7.8 percent of the index, were down 0.36 per cent, while Arabtec – Dubai's largest construction firm by market value – gained 2.40 percent in value. Brent Crude oil is up 2.3 percent at 37.28 US Dollars per barrel. Global markets suffered in 2015 after oil prices encountered steep losses. The Abu Dhabi's Securities Exchange is also down - closing at 4,271 points today. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/83a66d50794d7ac4c07890ce55c9fed7 Find out more about AP Archive: http://www.aparchive.com/HowWeWork