Gulf stocks reel under impact of Arab unrest

KUWAIT CITY, Mar 1 (AFP): Stocks listed in the energy-rich Gulf states dropped, some sharply, Monday as they reeled under the impact of sweeping unrest in many Arab countries. The small Muscat Securities Market led the slide Monday, shedding 4.9 per cent followed by the bourses in Dubai, which dived to a level last seen in 2004, and Qatar, which slid below the 8,000-point mark. Daily protests in Bahrain and violent demonstrations in Oman besides the continued unrest in Libya and several other Arab countries have heavily impacted dealers' sentiment, traders said. The Saudi Tadawul All-Shares Index, the largest Arab bourse, fell for the 11th consecutive session Monday while Kuwait Stock Exchange, the second largest, was closed for national holidays.