A rash of fourth-quarter losses extended local stock market declines for a second day this week as uncertainty over Dubai's debt restructuring hit share prices. Aldar Properties, the Middle East's second-largest developer by assets, fell to its lowest in almost seven months after reporting a fourth-quarter loss. Aldar's 4.1 per cent price decline today weighed heavily on the Abu Dhabi Securities Exchange General Index, which closed 0.6 per cent lower, the biggest loss among the GCC bourses for the day.