Mideast Stocks: Most Gulf markets fall as virus resurgence weighs
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Mideast Stocks: Most Gulf markets fall as virus resurgence weighs

Most major Gulf stock markets fell in early trade on Monday, with the Dubai index leading the losses, as a second wave of coronavirus infections jolted the tourism boom and dented investor appetite.

Dubai, one of the few destinations open to international travellers since July, has yet to impose tough restrictions despite record daily infections in the UAE. Investors are hopeful that the rollout of COVID-19 vaccines will cushion the impact from the pandemic.

In Dubai, the index have retreated 0.7%, on track to extend losses for a fifth consecutive session.

Logistic firm Aramex declined 2.2%, while the Dubai’s largest lender Emirates NBD fell 0.4%.

Saudi Arabia’s benchmark index eased 0.2%, with oil giant Saudi Aramco and National Commercial…

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