Tuesday 8 January 2019

MIDEAST STOCKS-Property stocks hurt #Dubai, industrials lift Egypt | Reuters

MIDEAST STOCKS-Property stocks hurt Dubai, industrials lift Egypt | Reuters:

The Dubai stock market reversed course to slide on Tuesday as its property shares fell, while Egypt's blue-chip index gained for a fifth straight session, aided by its industrial stocks.

Dubai's index fell 0.2 percent after rising for three straight sessions. Dubai's largest listed developer Emaar Properties dipped 1.3 percent, while its unit Emar Development lost 2.8 percent.

In 2018, the index fell over 25 percent to become the world's worst-performing major stocks market in local currency terms, led by declining real estate stocks.

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