Monday 23 November 2015

MIDEAST STOCKS-Gulf slips on weak oil, Orascom Telecom drags down Egypt | Reuters

MIDEAST STOCKS-Gulf slips on weak oil, Orascom Telecom drags down Egypt | Reuters:

"Gulf stock markets mostly fell on Monday because of weak oil prices, while a slide of shares in Orascom Telecom Media dragged down Egypt's bourse.

Brent crude oil tumbled more than 2 percent at one stage in Asian trade to below $44 a barrel, though it later recovered above that mark. The Saudi stock index, which had surged 2.1 percent on Sunday, fell back 0.4 percent.

Top petrochemical producer Saudi Basic Industries added 0.9 percent. But many banks fell with Al Rajhi losing 1.9 percent."



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