MIDEAST STOCKS-Real estate weighs on Dubai, Egypt ends losing streak | Reuters:
Dubai’s stock market tumbled to a 34-month low on Tuesday as real estate shares continued to slide, while Egyptian blue chips rebounded after five straight sessions of losses.
The Dubai index fell 1.0 percent to 2,700 points, its lowest level since January 2016; it slipped below technical support on the October low of 2,707 points. Emaar Properties shed 3.2 percent after a unit agreed to sell five hotels in Dubai to Abu Dhabi National Hotels for an undisclosed amount.
Union Properties lost 3.4 percent, though another major property firm, DAMAC, added 1.0 percent. Dubai’s largest bank, Emirates NBD, lost 2.2 percent.
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