Etisalat led the ADX General Index’s retreat with a 2.6 percent drop.
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Abu Dhabi stocks posted their longest losing streak since October amid a slump in trading across Gulf Arab equity markets as investors held out for more than a $1 billion worth of rights issues.The ADX General Index fell 1.1 percent in a sixth-straight decline. At least seven Gulf companies, including Dubai Islamic Bank PJSC and Dubai Parks & Resorts PJSC, plan share offerings that will raise a combined $1.1 billion, according to data compiled by Bloomberg. Oman's MSM 30 Index bucked the sell-off, ending little changed.Qatar's QE Index declined 1.8 percent and Kuwait's SE Price Index slipped 0.1 percent.Dubai Islamic Bank was unchanged and Dubai Parks & Resorts added 1.6 percent.
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