Stocks in Dubai got crushed on Sunday.
The Dubai FMG Index fell a whopping 5.99% on the day.
This is the biggest downward move since June 24, when the FMG Index fell 6.5%.
Once again, the catalyst for the sell-off appears to be Arabtec...
Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 7 percent increase in second-quarter net income on Sunday, matching analysts' forecasts.
His Excellency Essa Kazim:
The continuous market momentum signals investors’ confidence in DFM’s diversified and lucrative opportunities, and its ability to sustain growth
Foreign investors accounted for 42.6% of total trading value...