Dubai Shares Drop Most in Week on Europe Debt; Emaar Declines
This article is for subscribers only.
Dubai’s benchmark stock index dropped the most in almost a week, leading a decline in Persian Gulf shares, as oil fell and European stocks retreated amid concern about the region’s debt crisis.
Emaar Properties PJSC, builder of the world’s tallest skyscraper, lost 2.8 percent. Saudi Basic Industries Corp., the world’s biggest petrochemicals maker known as Sabic, fell the most in three weeks. Dubai’s DFM General Index dropped 0.6 percent, the most since Dec. 6, to 1,388.19 at the 2 p.m. close. Saudi Arabia’s Tadawul All Share Index retreated 0.2 percent while the Bloomberg GCC 200 Index weakened 0.3 percent.