MIDEAST STOCKS-Gulf markets edge down after oil plunges | Reuters:
"Most Gulf stock markets edged down in early trade on Tuesday as positive earnings reports failed to offset the impact of Brent oil dropping 5 percent to below $50 per barrel.
Dubai's stock index fell 0.7 percent with most stocks negative on very low volumes. Heavyweight developer Emaar Properties, which has tumbled more than 10 percent since its flotation, slid 1.5 percent.
Shareholders of Emaar's Egyptian subsidiary submitted a total of 487.3 million shares to be bought back by the company on Monday, more than five times the 90 million that Emaar Misr agreed to repurchase at the initial public offer price of 3.80 pounds."
'via Blog this'
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