GulfBase Live Support
01/06/2012 07:52 AST
Gulf bourses fell yesterday, ensuring their worst monthly performance in over a year, as fears grew that Spanish banks may soon seek a bailout and concerns lingered over a disorderly Greek exit from the eurozone.
In the UAE, Abu Dhabi’s benchmark slipped 0.4% to its lowest close since January 30.
Dubai’s index edged to a higher close after a choppy session, ending up 0.06%. May losses amount to 9.8%, the worst monthly performance since January 2010.
Muscat’s index shed 0.6%, halting a three-day advance, taking its May losses to 1.9%.
Elsewhere, Kuwait’s index fell 0.8% to a seven-week low.
Retail investors dominated trade on the bourse and these players seemed worried about renewed political instability.
In Egypt, EFG Hermes rose 3.7% on the back of a potential bid for the bank but the index ended flat.
Elsewhere in the Gulf, Bahrain’s measure gained 0.2% to 1,140 points.
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