June 13 Reuters Major Gulf bourses declined in early trade on Monday, in line with Asian shares and oil prices as an unexpected spike in U.S. inflation renewed fears over policy tightening and economic growth, while fresh COVID19 restrictions in China caused concerns over fuel demand.

The U.S. consumer price index increased a biggerthanexpected 8.6 last month, the largest yearonyear increase since December 1981, official figures showed, dashing hopes that inflation had peaked.

Dubai39;s main share index tumbled 2.7, weighed down by a steep slump in financial and real estate stocks.

The emirate39;s bluechip developer Emaar Properties and Shariacompliant lender Dubai Islamic Bank dropped 4.2 and 2.6, respectively

In Abu Dhabi, equities declined 1.2, set to extend losses to a straight ninth session, as the emirate39;s largest lender First Abu Dhabi Bank fell 1.2 and conglomerate International Holding Company dropped 0.4.

Among other stocks, Dana Gas  slipped 2.8 after the firm said that it is in active discussion with the Egyptian government to reach a deal on Block 6 North El Arish Concession.

Saudi Arabia39;s benchmark index fell 0.4 as Riyad Bank decreased 1.5 and oil behemoth Saudi Aramco eased 0.6.

The energy index in Saudi Arabia dropped 0.7.

However, Bupa Arabia jumped 3.9 after the company39;s board proposed a capital increase by 300 million riyals 79.97 million with the issue of 1 bonus share for 4 shares owned.

The Qatari index eased 0.8, with the Gulf39;s…