MIDEAST STOCKS-Property firms and banks sink UAE; other markets sluggish | Agricultural Commodities | Reuters:
"Most Gulf stock markets consolidated on Wednesday because of a weak global environment and a lack of fresh, positive news as the second-quarter earnings reporting season drew to a close in many countries. Profit-taking in property firms and banks pulled down Dubai and Abu Dhabi.
European stocks suffered their biggest one-day fall in nearly a month after another slump on Wall Street and tensions over Ukraine created a mood of risk aversion. Brent crude oil posted its weakest close since November 2013 on Tuesday, though it partially recovered on Wednesday.
This affected the Gulf, where the long-term economic and market outlook remains positive but with second-quarter earnings season mostly over, short-term retail investors see few new incentives to buy on the immediate horizon."
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