Gulf may have soft tone with US stock futures down

Dubai's index is technically weak for the short term
(PATRICK BAZ/AFP/Getty Images)
By Reuters
Mon 06 Mar 2017 10:17 AM

Gulf stock markets may have a soft tone on Monday with US stock futures weak and in the absence of positive news within the region.

US stock futures have slipped 0.4 percent in Asian trade, a fairly large move for the region.

Dubai's index is technically weak for the short term after losing 1.1 percent to 3,543 points on Sunday, falling below minor technical support on its February low of 3,551 points. The index has stronger support at the late December lows around 3,500 points.

In Qatar, major developer Barwa Real Estate goes ex-dividend on Monday, which could pressure the index.

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