Middle East shares decline – News of Bahrain- DT News

Middle East shares decline – News of Bahrain- DT News

Dubai's main share index ended 2.2pc lower, dragged down by a 3.8pc fall in bluechip developer Emaar Properties and a 2.5pc drop in Emirates NBD Bank.. The Abu Dhabi index slid 2.8pc, with First Abu Dhabi Bank tumbling 5pc, reaching its lowest level since July 2018.. Among others, Abu Dhabi Commercial Bank was down 2.8pc.. Saudi Arabia's benchmark index fell 0.4pc.. In Qatar, the index slipped 0.1pc, hit by a 5.2pc slide in Qatar Fuel Company and a 6.9pc plunge in United Development, as the stock traded ex-dividend.. The index's fall was cushioned by gains at Qatar National Bank, which rose 2.8pc.. Qatar's central bank said on Wednesday it was cutting deposit rates by 50 basis pts (bps) to 1.5pc.. Outside the Gulf, Egypt's blue-chip index retreated 1.9pc, pressured by a 3pc fall in Commercial International Bank and a 5.5pc plunge in Credit Agricole Egypt..