Tuesday 13 January 2015

UPDATE 1-MIDEAST STOCKS-Gulf markets pull back as oil continues slide | Reuters

UPDATE 1-MIDEAST STOCKS-Gulf markets pull back as oil continues slide | Reuters:



"Gulf stock markets pulled back early on Tuesday as oil prices continued their slide, prompting profit-taking across a wide range of sectors.



Dubai's equity index slid 2.4 percent with the most heavily traded stock, construction firm Arabtec, slumping 3.4 percent. Abu Dhabi's index edged down 0.5 percent, dragged down by top real estate firm Aldar Properties , which was off 2.9 percent.



Although Gulf bourses have in the last few weeks become somewhat more comfortable with the oil price slide and are no longer panicking, the uncertainty over where and when oil will bottom continues to weigh heavily on investors."



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