MIDEAST STOCKS-Property weighs on #Dubai, most major Gulf markets fall | Reuters

MIDEAST STOCKS-Property weighs on Dubai, most major Gulf markets fall | Reuters:

Dubai stocks fell on Thursday when its property firms declined, while bank shares hurt the Saudi market.

Saudi Arabia’s index was down 0.7 percent, with Al Rajhi Bank shedding 1.2 percent and the country’s largest bank, National Commercial Bank, declined 1.5 percent.

Saudi International Petrochemical slipped 1.5 percent. The firm said potential synergies from a possible merger with Sahara Petrochemical is expected to be 175 million to 225 million riyals recurrent EBITDA impact a year. Sahara Petrochemical added 0.2 percent.