Dubai's benchmark stock exchange slumped to a more than seven-year low Sunday amid renewed calls for the UAE's equity markets to merge into a single entity.
The Dubai Financial Market (DFM) General Index tumbled 0.99 per cent to 1,314.47 — its lowest close since June 2004 — after nine EU countries had their credit ratings downgraded and speculation mounted that local companies will report disappointing full-year earnings.
The Abu Dhabi Securities Exchange (ADX) fell to a more than three-week low, slipping 0.69 per cent to 2,344.18.
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