Mideast Stocks: Most Gulf markets track weakness in global peers | ZAWYA MENA Edition

Mideast Stocks: Most Gulf markets track weakness in global peers | ZAWYA MENA Edition:

Major Gulf stock markets fell on Thursday, in line with global equities, as weak U.S. retail sales stoked fears about the health of the world's biggest economy. 


Global markets fell after data showed U.S. retail sales contracted in September for the first time in seven months, a potential sign that manufacturing-led weakness could be spreading to the broader economy.

The Dubai index declined 1.4%, with the largest lender Emirates NBD sliding 3.8%. 

The bank's board approved a capital increase via a rights issue of up to 6.45 billion dirhams ($1.76 billion), lower than 7.35-billion dirhams that the general assembly had decided in February this year.