A sculpture of an inflatable dolphin by Jeff Koons sold for $5 million. A 1971 Sigmar Polke painting depicting purple monkeys, an alligator and a penis was snapped up for $4.5 million. An abstract painting by Joan Mitchell fetched $1.5 million.
Middle East shares dropped, sending Qatar’s index down the most since May, on concern worsening violence in Libya and regional instability may derail economic growth. Dubai bonds fell and Morocco’s credit risk soared.
Dubai stocks fell to the lowest in more than a week as a meeting of Group of 20 leaders failed to reassure investors about the strength of the global economic recovery and on concern banking earnings may disappoint.
Dubai’s benchmark index rose to the highest level in almost four months after FTSE Group categorized the United Arab Emirates as an emerging market, boosting confidence that foreign investment will increase.
Abu Dhabi shares advanced to the highest in almost five months on speculation third-quarter earnings in the United Arab Emirates will beat expectations and after global markets and oil rallied. Qatar’s index rose.
Centro Properties Group , the Australian shopping-mall owner that ceded control to creditors in 2008, said a number of parties have approached it with expressions of interest in its businesses and assets.