MIDEAST STOCKS-Major Gulf bourses retreat; Egypt resumes gains - Markets - Reuters:
Major Gulf stock markets ended lower on
Wednesday, with financials and property shares weighing on
indexes in the United Arab Emirates, while the Egyptian bourse
advanced on the back of its top lender.
Dubai's main share index declined 0.7%, with
blue-chip developer Emaar Properties shedding 1.8% and
sharia-compliant lender Dubai Islamic Bank losing 1%.
Elsewhere, Amlak Finance tumbled 4.1%, a day after
it saw its biggest intraday gain Since December 2019.
On Monday, Amlak signed an agreement with Dubai Land
Department, allowing customers to invest in properties listed by
the firm.
In Abu Dhabi, the index lost 0.7%, hurt by a 1.6%
fall in the country's largest lender First Abu Dhabi Bank
and a 2.8% slide in Dana Gas.
The energy firm has asked owners of its bonds to provide
information on their holdings, three sources said and a document
reviewed by Reuters showed, a move that some investors fear may
be a step towards another debt restructuring.
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