MIddle East Stocks Mostly Drop on Weak Financial and Property Shares in UAE

Wednesday, July 8, 2020 10:52 AM | MT Newswires

Mideast shares mostly declined on weakness in financial and property stocks in the UAE.

Meanwhile, Egypt's central bank said on Tuesday net foreign reserves recovered some ground lost during the coronavirus outbreak, rising to $38.2 billion in June from $36 billion in May.

In company news, Dana Gas asked owners of its bonds to provide information on their holdings, three sources said and a document reviewed by Reuters showed. Some investors fear this may mean another debt restructuring, the story said.

Saudi Arabia's main index dipped 0.1% to 7,394 points, Abu Dhabi fell 0.7% to 4,312 points, Dubai shed 0.7% to 2,083 points, Qatar slipped 0.2% to 9,225 points, Egypt rose 0.7% to 11,128 points, Bahrain gained 0.2% to 1,283 points, Oman lost 0.3% to 3,494 points and Kuwait fell 0.4% to 5,617 points.

Share this article:

Upgrade to Premium and Analyze Stocks Like a Pro

50% Off All Subscriptions
InvestorsObserver Premium
InvestorsObserver Premium
InvestorsObserver Premium
Save up to 65% with annual

InvestorsObserver Premium

$ 20.75 $ 10.38 /month
$249 $124.50 billed annually

You May Also Like