MIDEAST STOCKS-Property pulls back UAE; Saudi stocks fall on oil volatility | Reuters:
Weakness in property shares weighed on the Abu Dhabi and Dubai markets on Thursday in fallout from an earnings miss by Aldar Properties, while oil price volatility hurt Saudi stocks.
Abu Dhabi stocks pulled back from a near four-year high and were down 0.7 percent in early trade. Aldar Properties dropped 2 percent.
Abu Dhabi’s largest property developer on Tuesday missed estimates with a 28 percent fall in second-quarter profit, which it blamed on a revaluation of properties related to its retail portfolio.
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