Jan. 30 (Bloomberg) -- Persian Gulf shares plunged, sending Dubai’s index down the most in a year, on concern political unrest could spread after Egyptian protests persisted and the North African country’s president refused to resign.
Emaar Properties PJSC, which claims to be the largest foreign-direct investor in Egypt’s real-estate industry, tumbled as much as 9.7 percent. Air Arabia PJSC fell to the lowest intraday level on record. The DFM General Index plunged 6.2 percent, the most since December 2009, to 1,512.91 at 10:32 a.m. in Dubai. The Bloomberg GCC 200 Index slid 1.1 percent. Egypt’s market is closed today after tumbling 16 percent the past two trading days ---
"International investors are fleeing Middle East stock markets with justified risk aversion across the board’’ on fear the crisis may spread, said Mahdi Mattar, head of research at Abu Dhabi-based CAPM Investment PJSC, an investment banking company. ---
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