Gulf stocks decline

Gulf stocks declined on new US jobs data reignited speculation the US Federal Reserve will raise interest rates this year.

Saudi Arabia's Tadawul All Share Index declined 2.2 per cent, the first decline in several days.

Markets in Dubai, Abu Dhabi, Kuwait, and Bahrain also declined.

The BGCC 200 Index, the biggest, most liquid stocks in the Gulf Cooperation Council (GCC), declined 1.2 per cent.

The new US jobs data showed growth in the labor market, strengthening the case for an increased interest rate by the Fed before the end of 2016.

Federal funds future prices have the chance of increased borrowing costs at 64 per cent.


Read more at Bloomberg.