Middle East Economic Survey

VOL. LII

No 4

26-Jan-2009

REGIONAL/GCC

Gulf Stocks Slump On 4Q Earnings Downturn

Most Gulf indices slumped to multi-year lows last week as many companies reported lower fourth quarter earnings and some slipped into the red. The Kuwait, Bahrain and Qatar indices dropped to their lowest levels in over four years, Oman hit a two and half year low, Dubai fell to the lowest level since the index was rebased at the end of 2006, and Abu Dhabi also slumped. While a larger than...