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Mideast Stocks Slip Amid Coronavirus Worries As Gulf States Plan to Ease Restrictions

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Last updated: 06/29/2020 10:37:40

10:37 AM EDT, 06/29/2020 (MT Newswires) -- Middle East shares declined on Monday amid a background of worries over a rise in coronavirus infection rates in different parts of the world as Gulf state aim to ease restrictions, starting on July 1.

Gulf states plan limited reopening of restaurants, beaches and parks, as infections have passed their peak and the rate was subsiding.

In company news, Palm Hills Development reported a drop in Q1 profits from the year-ago period.

Saudi Arabia's main index dipped 0.1% to 7,287 points, Abu Dhabi shed 0.7% to 4,275 points, Dubai fell 0.2% to 2,081 points, Qatar slumped 0.8% to 9,052 points, Egypt declined 1.9% to 10,750 points, Bahrain was flat at 1,278 points, Oman slipped 0.1% to 3,521 points and Kuwait shed 0.6% to 5,620 points.

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