Gulf Stocks Retreat as Emerging Markets Prepare for Fed, MSCI
- DFM General Index falls most in a week in low volumes
- Most GCC gauges fall as traders ready for Fed, MSCI, Brexit
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Dubai stocks led a retreat across most Gulf Arab equities, tracking declines in emerging markets as investors brace for a series of key global events including this week’s Federal Reserve meeting and MSCI Inc.’s annual market-classification review.
The DFM General Index retreated 1 percent, the steepest drop since June 2. Emaar Properties PJSC, the developer with the largest weighting on the benchmark index, was the biggest contributor to the gauge’s loss. Traders exchanged 110 million shares, about 40 percent less than the 20-day average. Abu Dhabi’s ADX General Index fell a second day, losing 0.3 percent.