Dubai Shares Drop & Qatar and UAE stock markets will be closed from tomorrow and resume trade on 21 November to mark the holiday of Eid al-Islam al-Adha

Dubai shares retreated for a third day, so a decline in the Gulf, after global markets slumped on concern of some European countries will have difficulty paying the debt and investors cut holdings before a Muslim holiday.

Emaar Properties PJSC, builder of the world's tallest skyscraper in Dubai, led to the fall and Emirates NBD PJSC, the biggest lender in the UAE 'by assets, fell 0.9 percent. The DFM General Index fell 0.4 percent to 1,685.52, at 11:52 pm in Dubai. Bloomberg GCC 200 Index of regional stocks fell to 0.2 percent. markets of Saudi Arabia and Kuwait are closed today for Eid.

Gulf stocks are falling due to a "weak international leadership," said Tarek Lotfy, CEO of Dubai Ltd., based Arqaam Capital "Most market participants are out of the week, so it is expected that volumes remain low. "

U.S. and new market shares fell last week as concerns about the debt crisis intensified in Europe and raised speculation that China will raise interest rates. The Group of 20 leaders gathered in Seoul Ireland discussed the problems of debt amid speculation that the EU has to intervene with a rescue plan. 500 of Standard & Poor's fell 2.2 percent last week, its biggest weekly decline in three months. The MSCI Emerging Markets Index fell 3 percent last week, the most since the week ended Aug. 13, while the Stoxx Europe 600 index fell 0.7 percent.

Qatar and UAE stock markets will be closed from tomorrow and resume trade on 21 November to mark the holiday of Eid al-Islam al-Adha. Kuwait is closed until November 18 and Bahrain will be closed from November 16 to November 18.

The decline in oil

Crude oil for December delivery fell 3.3 percent to $ 84.88 a barrel on the New York Mercantile Exchange on 12 November. The six nations of the Gulf Cooperation Council, including the UAE and Saudi Arabia, supplying a fifth of the world's oil.

About 48 million shares traded today in Dubai, compared with a six-month daily average of 117 million shares. Emaar fell as much as 2.2 percent to 3.59 dirhams, the lowest intraday level since 09 November, and traded at 3.65 dirhams. UAE fell for the first time in eight days to 3.30 dirhams.

In Israel, the TA-25 Index fell 0.8 percent to 1230.5, its lowest level since October 10 in Tel Aviv. The yield of 5 percent of Israel Mimshal Shiklit due January 2020 rose 8 basis points to 4.57 percent.

Abu Dhabi measure has lost 0.3 percent and the benchmark stock index fell 0.2 Oman percent. Bahrain All Share Index little changed, while Qatar QE index rose less than 0.1 percent.