MIDEAST STOCKS-Most major Gulf markets dampened by disappointing earnings - Reuters:
Most major Gulf markets were subdued on Thursday, digesting disappointing earnings at major companies.
The Dubai index slipped 0.2% with its largest listed developer Emaar Properties losing 1%, while its unit Emaar Malls was down 1.7%.
Emaar Properties posted a 1.7% fall in fourth-quarter profit to 1.76 billion dirhams on Wednesday, compared to 1.79 billion dirhams year ago.
Dubai is expected to see the biggest number of new homes completed in more than a decade this year, adding to pressure on a once-booming but now struggling property sector, a Knight Frank report said.
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