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Gulf markets decline
- Middle East: Wednesday, July 16 - 2008 at 07:42
A mass decline occurred across Gulf markets on Tuesday as DFM fell by 0.44%, ADX by 0.25%, KSE by 0.54%, Doha by 0.35% and Bahrain by 0.10%. Muscat was the only gainer, rising by 0.29%. Emaar continued its downward trend on the DFM to drop to Dhs10, raising fears that the whole market might collapse if the shares break that barrier. Outside forces intervened and started to buy the share to save it and prevent the tragedy of last year when Emaar dropped to Dhs9.75. A similar feeling of panic erupted at the Saudi market, which registered a very sharp decline of 5% before closing down 4.3%.
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Jeff Florian, Senior ReporterWednesday, July 16 - 2008 at 07:42 UAE local time (GMT+4)
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