MIDEAST STOCKS-Dubai dragged down by DSI, Saudi flat after recent gains | ZAWYA MENA Edition:
Dubai stocks fell more than one percent in early trade on Monday, led by losses in contractor Drake & Scull, while Saudi stocks were flat after gains ahead of index compiler MSCI's move to lift Riyadh to its emerging markets benchmark.
Drake & Scull shares were down nine percent at 0.910 dirhams ($0.2478) in morning trade on retail selling after it fell below a key support level of one dirham.
Concerns about Drake & Scull's business outlook and ongoing investigation against its previous management are weighing on the stock, traders said. The stock is down over 60 percent so far this year.
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