MIDEAST STOCKS-Dubai ends run of gains, Gulf dragged by financials | Reuters:
Dubai stocks fell back on Thursday after touching a two-and-half-month high as real estate stocks slipped after leading six days of gains, while all major Gulf bourses also dropped on sliding financial stocks.
Dubai’s index was down 0.5 percent with DAMAC Properties shedding 3 percent and Emaar Development dropping 2.3 percent.
Property firms have led the recent rally after displaying signs of recovery in their fourth-quarter results and more construction contracts. However they remained vulnerable to falling property prices.
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