MIDEAST STOCKS-Dubai leads losses as Gulf tracks decline in global markets - Agricultural Commodities - Reuters:
Middle East stocks fell on Wednesday,
mirroring a decline in global shares, with Dubai particularly
hard hit as property companies declined sharply.
Global equity markets dropped after data showed the U.S.
manufacturing sector contracted in September to its weakest
level in more than a decade as business conditions deteriorated
further amid trade tensions between China and the United States.
Manufacturing activity in the euro zone also shrank at its
steepest rate in almost seven years last month, according to a
survey on Tuesday that suggested there would not be a turnaround
any time soon.
In Dubai, the index closed 1.3% lower, extending
losses for a second session with all its real estate stocks
tumbling. Blue-chip developer Emaar Properties plunged
4.8% to its lowest level since June 27, while its unit Emaar
Malls was down 1.6%.
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