Dubai stocks led a drop in the Persian Gulf, set for the lowest close in three months, after oil slumped on concern that Europe’s debt crisis will worsen and as China’s industrial growth unexpectedly slowed in April.
Arabtec Holding Co. (ARTC), the biggest builder in the United Arab Emirates by market value, fell 1.7 percent. Emaar Properties PJSC (EMAAR), developer of the world’s tallest skyscraper, retreated for the eighth time in nine days. Dubai’s DFM General Index (DFMGI) decreased 0.9 percent to 1,501.15, set for the lowest close since Feb. 12, at 10:43 a.m. in the emirate. The Bloomberg GCC 200 Index (BGCC200) slipped 0.1 percent.
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