Greece woes hit Dubai shares; Egypt slumps.

Summary: DUBAI - Dubai's stocks declined for the second time in three days after oil slumped to a six-month low on concern Greece will have to exit the euro system. Egypt's measure lost the most in more than a month.

DUBAI - Dubai's stocks declined for the second time in three days after oil slumped to a six-month low on concern Greece will have to exit the euro system. Egypt's measure lost the most in more than a month.

Arabtec Holding fell 2.1 per cent. Emaar Properties slumped to the lowest since March. Dubai's DFM General Index lost 0.6 per cent to 1,466.56 at the 2pm close in the emirate.

"Worry over rapidly falling oil prices, continued geopolitical turmoil and concern over the Greek debt issue continues to erode investors' appetite," said Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities.

Abu Dhabi's benchmark index lost 0.2 per cent.

In Egypt, the EGX30 Index slumped 2.2 per cent ahead of presidential elections this week.

Arabtec decreased the most in a week, falling to Dh2.86. Emaar, developer of the world's tallest skyscraper, lost 0.7 per cent to Dh2.88, the lowest since March 8.

Elsewhere in the Gulf Cooperation Council, Qatar's QE Index fell 0.6 per cent and Kuwait's gauge dropped 0.1 per cent, while Oman's benchmark stock index slipped 0.7 per cent. Bahrain's measure fell 0.2 per cent as Saudi Arabia's benchmark index advanced 0.6 per cent.

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