Mideast Stocks: Real estate continues to hurt Dubai, most major Gulf markets dip | ZAWYA MENA Edition:
Dubai's stock market fell sharply on Monday in its fourth straight day of losses, as weak property stocks continued to pressure it, while other major Gulf markets slipped.
Brent crude oil rose on Monday after producer club OPEC and some non-affiliated suppliers last Friday agreed to a supply cut, but despite this, the outlook for next year remains muted on the back of an economic slowdown.
In Dubai, the Index fell 1.4 percent, continuing to hover at its lowest level in more than five years. Union Properties slumped 5.5 percent hitting a more than five year low, while DAMAC Properties lost 3 percent, its lowest since February 1, 2015.
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