gulf stocks seen lower dp world in focus
Last Updated : GMT 04:22:55
Arab Today, arab today
Arab Today, arab today

Gulf stocks seen lower; DP World in focus

Arab Today, arab today

Arab Today, arab today Gulf stocks seen lower; DP World in focus

Dubai - Arabstoday

Gulf markets are seen lower on Sunday tracking Wall Street\'s woes after US equities recorded their worst weekly loss since the 2008 financial crisis, hit by anxiety over the euro zone debt crisis and a warning about the US economy.A drop in oil prices may add downward pressure to regional stocks. Crude fell to a six-week low on fresh concerns about Europe\'s debt problems. US November crude fell 66 cents to settle at $79.85. \"Local markets will be under some pressure catching up with the global market selloff, as well as the drop in commodity prices,\" says CAPM Investment in a note. Saudi Arabia\'s bourse resumes trade after a long weekend. The Saudi market was closed on Saturday for the National Day holiday, depriving the region of trading cues. Gulf markets ended lower on Thursday, after the US Federal Reserve warned the United States faced a grim economic outlook.Dubai\'s DP World will be in focus after it shut down its Ain al-Sokhna port in Egypt on Thursday because of labour strikes that have cost it about 30 million Egyptian pounds ($5.02m) in lost revenue.

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Arab Today, arab today
Arab Today, arab today

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