MIDEAST STOCKS-Saudi falls in early trade, Emaar still sliding in Dubai

MIDEAST STOCKS-Saudi falls in early trade, Emaar still sliding in Dubai:

"Saudi Arabia’s stock index fell 0.3 percent in early trade on Tuesday while blue chip Emaar Properties continued sliding in Dubai. National Commercial Bank, Saudi Arabia’s largest lender, lost 0.7 percent and food maker Savola dropped 1.9 percent to 35.80 riyals after Morgan Stanley cut its target price for the stock to 44 riyals from 50.6 riyals. In Dubai, the index fell 0.5 percent as Emaar Properties declined a further 1.7 percent. It has been sliding since late last week, when it priced the initial public offer of its local real estate development unit in the lower half of an indicative range."



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