MIDEAST STOCKS-Gulf slips slightly on oil; Egypt outperforms | Reuters:
"Most Gulf stock markets pulled
back slightly on Tuesday because of a plunge of oil prices,
while Egypt's bourse bucked weakness in other emerging markets
and held firm.
Brent crude oil sank 5.3 percent to below $50 a
barrel on Monday, denting - though not destroying - hopes in the
Gulf that oil prices have finally bottomed out.
This dampened some of the petrochemical stocks which had
surged in the previous several days in response to stronger oil.
Saudi Basic Industries, which had jumped 12 percent in
the past four days, fell back 1.1 percent as the petrochemical
index lost 0.6 percent. A few petchems stayed firm,
however, with Saudi Kayan gaining 2.5 percent."
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