Gulf markets review
Dubai's main index fell below 4,000 points for the first time in 15 weeks, paced by Emaar Properties and Dubai Islamic Bank (DIB).
The main index dropped 2.44% to 3,968.09 points, with Emaar Properties tumbling to its lowest close in 28 months after the company failed to allay investor concerns about a land-for-stocks-deal with the government.
The stock dropped 3.47% to 9.75 dirhams, its weakest finish since April 12, 2005.
The Abu Dhabi index fell for an eighth day as real estate stocks tracked a slide in shares of Emaar in Dubai.
The index fell 1.95% to 3,327.86, its biggest decline this month, with Sorouh Real Estate dropping 4.35% and Aldar Properties 5.06%.
Saudi Arabia's main index closed up for the fourth time in five trading days, paced by Saudi Electricity and Samba Financial Group.
The index climbed 0.18% to 8,089.09 points, with Saudi Electricity up 2.17% and Samba 1.03%.
After the being the only loser in the Gulf, the index is up almost 2% this year.
The main indicies of Kuwait and Qatar also rose, closing up for a third consecutive day, paced respectively by Global Investment House and Industries Qatar.
Kuwait, the best performer in the Gulf this year, edged up 0.1% to 12,584.40 points, while Global was up 1.18%.
Qatar rose 0.4% to 7,484.56 points, with Industries Qatar rising 0.64%. The index is up more than 4.5% this year.
Oman's index fell, ending 0.42% down at 6,577.89 points. Bank Muscat fell for a fourth day, to close 0.57% down.
Bahrain's index also ended lower, down 0.44% at 2,550.21 points. Source
The main index dropped 2.44% to 3,968.09 points, with Emaar Properties tumbling to its lowest close in 28 months after the company failed to allay investor concerns about a land-for-stocks-deal with the government.
The stock dropped 3.47% to 9.75 dirhams, its weakest finish since April 12, 2005.
The Abu Dhabi index fell for an eighth day as real estate stocks tracked a slide in shares of Emaar in Dubai.
The index fell 1.95% to 3,327.86, its biggest decline this month, with Sorouh Real Estate dropping 4.35% and Aldar Properties 5.06%.
Saudi Arabia's main index closed up for the fourth time in five trading days, paced by Saudi Electricity and Samba Financial Group.
The index climbed 0.18% to 8,089.09 points, with Saudi Electricity up 2.17% and Samba 1.03%.
After the being the only loser in the Gulf, the index is up almost 2% this year.
The main indicies of Kuwait and Qatar also rose, closing up for a third consecutive day, paced respectively by Global Investment House and Industries Qatar.
Kuwait, the best performer in the Gulf this year, edged up 0.1% to 12,584.40 points, while Global was up 1.18%.
Qatar rose 0.4% to 7,484.56 points, with Industries Qatar rising 0.64%. The index is up more than 4.5% this year.
Oman's index fell, ending 0.42% down at 6,577.89 points. Bank Muscat fell for a fourth day, to close 0.57% down.
Bahrain's index also ended lower, down 0.44% at 2,550.21 points. Source
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