Dubai's benchmark fell to a one-week low and most Gulf Arab bourses also declined on Thursday, with investors reluctant to hold big positions ahead of a long weekend that includes elections in Egypt and Greece.
Egypt will return to the polls on June 16-17 to choose a new president and investors hope a peaceful vote will boost Cairo stocks next week, while a leftist victory in Greece's election could ultimately force the country out of the euro.
"We're being held hostage to international market performance - it's one day up and then one day down, which is confusing everyone," said Marwan Shurrab, vice-president and chief trader at Gulfmena Alternative Investments.
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