Gulf stock markets mixed after US signals higher interest rates
The Dubai Financial Market fell to close the week, while the stock exchanges in Saudi Arabia, Qatar and other Gulf states went up.
The stock exchange in the United Arab Emirates’ largest city fell today.
The Dubai Financial Market closed down 0.4 percent, according to stock data from Bloomberg. Reuters reported that the drop was due to the US Federal Reserve signaling a rise in interest rates in the near future. Among major companies listed on the exchange, the Emirates NBD Bank’s stock fell 1.1 percent, while the real estate firm Emaar Properties dropped 0.8 percent, according to Reuters.
