Stocks in Abu Dhabi extended their losing streak for a seventh-straight session, the longest since May 2017.
The ADX General Index’s heaviest member, First Abu Dhabi Bank, fell 1.6 percent, placing the most pressure on the gauge. Last week, the index erased all its gains for the year.
Most equity measures in the Middle East retreated, mimicking a drop in emerging-market peers on Friday.
HIGHLIGHTS Markets in Dubai, Saudi and Israel fall. Only Egypt increases. EM stocks declined 1.3% on Friday, their worst daily performance since Dec. 14 EM Review: King Dollar, Growth Woes Halt Emerging-Market Revival
MIDDLE EASTERN MARKETS:
Abu Dhabi’s ADX General Index retreats 0.9%The gauge fell below its 100-day moving average last week, a move that hasn’t happened since Nov. In Egypt, the EGX30 Index rises 0.5% Earlier: Egypt Feb. Urban Consumer Prices Rise 14.4% From a Year Ago In Dubai, the DFM General Index falls 0.6% Emaar Properties drops 0.8%, trimming its gain this year to 14% The Tadawul Banks Index loses 0.2% after advancing as much as 0.4% earlier READ: Five Trends Are Reshaping Saudi Arabia’s Big Banks This Year Doha’s QE Index drops 0.1%, extending loss this year to 5% MORE: Danger Sign for Qatar Stocks as Neighbors Lure Foreign Investors