06/01/2015
"Dubai" recorded the second loss in the new year by 3.4%
Gulf markets continue loosing points with the decline in oil to 2009 levels
Gulf stock marketscontinuedto declineamida selloffyesterday,with adrop in crudeoilBrentblendprices below$ 55 a barrelfor the first timesince 2009,despite strongbudgetsannouncedby thecountries in the region,to keepoil pricesdominatesin the performance ofthese markets.
Dubai's indexfell into 3.4 percentwith the decline inthe stockof allbuta few of them. Gulf Finance House Shares"inBahrainare among the fewgainers, withraise3.4 percentafter the company saidit had wona lawsuitworth$ 11.5million related toits investmentin theQatari company.However, theBahrainistocks fell0.3percent to1422points.Brentoilpricefall of more than3 per cent, asdata showed thatRussian oilexportsand Iraqioil productionrecordforthe highestlevelsintwodecades.
The general indexof Abu Dhabilost0.5 per centwiththe descent of"ALDAR"sharesa majorreal estate developmentcompanies listed on theStock Exchangeemirate3.6 per cent.Fell"contacts"shareof 0.5per cent.
Qatar's stock marketfell1.9 per centamidanotherwave ofsellinga wide,whileOmanStock Exchangefell0.7 per cent.TheKuwaitStock Exchange indexfell0.8 per cent.
ThePresidentof the EgyptianStock Exchangeindexclosed up0.8per cent to9011.07points,surpassing thepsychologically importantfactat9,000 points.Therecordshares"Alnassajon" and "Johaina"the biggest gainson the index,thathave risen8.1 per centand 5.3per cent.It alsoincreasedthe "swaidi"sharesand "TMG" and "TE" and "Hermes" and "international trade" and "Ezz Steel"between0.1and 3.4per cent.
