Gulf bourses down amid Egypt concerns
The bourses in several Gulf countries crashed Sunday on mounting concerns over developments in Egypt. The Dubai Financial Market lost over six percent of its value at the opening of trading week, with the DFM index dropping to 1,505.62 points. It closed 4.32 percent down at 1,543.02 points.
The leading traded company, Emaar Properties, closed 8.26 percent down. Emaar has various projects in Egypt.
The Abu Dhabi Securities Exchange was down 3.74 percent during trading hours, before closing 3.68 percent down.
Kuwait Stock Exchange, the second-largest Arab stock market closed 1.76 percent, or 122 points down.
Qatar Exchange closed 2.95 percent down. Oman's Muscat Securities Exchange closed down 3.02 percent.
Bahrain Bourse closed 1.43 percent, 21.09 points down.
- Will terror attacks damper Arabs' appetite for European holidays?
- So cool it's hot: Saudi Arabia's $3.2B HVACR market driven by construction boom
- US, EU protectionist policies may be a blessing in disguise for GCC suppliers
- Dubai to Doha: How far can you stretch your dirham?
- OPEC's poor history of compliance will make production cut deal a challenge