MIDEAST STOCKS-Real estate and construction weigh on Dubai; Saudi slips | Reuters:
Real estate and construction companies weighed on the Dubai market on Tuesday as Drake & Scull mined new multi-year lows and Saudi stocks also slipped. DSI shares fell ten percent for a second day running to close at 0.81 dirhams ($0.22) per share, its lowest for at least five years. Retail investors have been offloading the stock amid concerns about its business outlook, while investors have also been worried about the outcome of an ongoing investigation into its former management team. Emaar Properties, the largest stock on the index, fell 1.2 percent, while Damac Properties fell 2.2 percent and Union Properties was down 4.3 percent.
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