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2015-01-04 21:15:00

DUBAI SHARES DECLINES

DUBAI SHARES DECLINES

Dubai and Abu Dhabi stocks fell on speculation sliding oil prices will curb revenue for a region that accounts for about a third of the world's crude reserves.

Dubai's DFM General Index (DFMGI) dropped 2.3 percent to close at 3,689.06, its lowest in more than two weeks, as markets reopened after the end-of-year holidays. Emirates NBD PJSC (EMIRATES) and Dubai Islamic Bank PJSC (DIB) led Dubai's drop. The ADX General Index (ADSMI) in Abu Dhabi, home to about 6 percent of the world's proven oil reserves, lost 1.7 percent while Qatar's gauge declined 0.5 percent. Saudi Arabian stocks fell 0.6 percent in Riyadh.

Brent…

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Tags: DUBAI, OIL, PRICES, EMIRATES, ISRAEL, EGYPT
Chronicle:
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