Dubai Shares Lead Arab Gulf Markets Lower Amid Mideast Conflict - Bloomberg

Dubai Shares Lead Arab Gulf Markets Lower Amid Mideast Conflict - Bloomberg:



"Dubai shares dropped a third day, leading declines in most regional markets, as some Arab nations reiterated their commitment to a conflict in Syria that shows no sign of letting up.



The Dubai Financial Market General Index (DFMGI) slid 1.3 percent at the close, and Abu Dhabi’s ADX General Index declined 1 percent. Qatar’s QE Index retreated for a sixth day, the longest streak since June, while Saudi Arabia’s Tadawul All Share Index lost 0.8 percent to 10,674.17 after the Arab world’s biggest bourse slumped 2.7 percent last week.



Stock rallies in Saudi Arabia, the United Arab Emirates and Qatar, among the best benchmarks in the world this year, are showing signs of faltering after the countries joined a U.S.- Arab coalition attacking Islamist militants in Iraq and Syria. The U.A.E. will be “active” in the coalition, Sheikh Mohammed Bin Rashid Al Maktoum, the country’s vice president, wrote in several local newspapers today."



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