07/01/2015
"Bahrain" contrary to the trend .. "Dubai" on the top of the falling
Gulf markets continue bleeding points, tracking their global counterparts
Gulf stock marketscontinue lossesyesterdaywithfallingglobalBrent crudeoilfor the secondstraight sessionandaffected by the globalmarkets,the outlookformarkets was negative,in addition to therisk ofa new crisisin the euro zonebecause ofGreece, which promptedinvestorsworldwidetosellinvolvingassetsatrisk.
TheDubai marketlossesin the Gulf regionled andmoved down by3.2 per cent Shares ofEmaarProperties, the largestreal estate developmentcompany listedin the emirate5.8 per centand exportsvolumes.Althoughitviolates theArabshareof flyingdownward trendto climb1.4percentafter the company saidyesterdayit had bought astake of49 per cent inPetra,JordanAviationwill establisha centerin Jordan, accordingto"Reuters".
Butthe Dubai bourseopen toforeign direct investmenthitin the previousdays of Worldfromemerging markets.Stock exchange datashowed thatforeign investorsfromoutside the Gulfhave soldmoresharesthanthey boughtyesterday.
Thedecline inthe overall indexof the Abu Dhabi2.7per centdecline inthe Qatar marketindexby 1.5 percent to11811.75points afterthatwas themost profitablemarketin the Gulfover the past yearasprofitsamounted to18.4per cent
Kuwait'sindexfell1.5per cent to6397.87points,taking its lossesfor this yearand2.1 per centdecline inMuscatindexof 1.3per cent, whileBahrainindex rose by0.3per cent.
Thedecline inthe price ofa barrelof TexasinFebruaryto belowthe threshold offifty dollarsfor the firsttime in fiveand a half years, while theprice of a barrelof Brentisatthe referencelevelat around$ 52.
SinceJunelast,oil priceslostmore than55 per centof its valuein light ofthe decline in demandand the weakness ofthe global economyas well as thestrong dollar.Thestockfellin the United States, Asia and Europeunder the influence ofexpectationsneedthe euro zoneto a newstimulus packageand the possibility ofa Greek exitfrom the regionMindexfell,CNN Emerging Markets1 per cent, its lowestlevel inthree weeks.
The mainindex of the Egyptianstock exchange2.4 per cent fell .It is expected thatEgyptas anet oil importerbenefit from thedrop in crudeprices, butits sharesare alsoaffected by the globalflowsin emerging marketsandthe governmentreliesheavily onfinancialaidfrom theGulfoil-exporting countries, whichmaybe reducedifthese countriesare becoming morecautious aboutspending.
