MIDEAST STOCKS-Saudi weighed down by petrochemical sector, Egypt sags | Reuters:
"The petrochemical sector was the main drag on Riyadh's stock index in early trade on Wednesday after oil extended its decline, while Egypt's benchmark retreated as investors' mood soured.
The Riyadh index was down 1.2 percent in the first hour as Saudi Basic Industries, the largest listed petrochemical stock, shed 2.4 percent. Brent oil futures were trading below $33 a barrel.
The Saudi retail sub-sector index fell 1.1 percent with Al Othaim Markets, a supermarket chain, down 0.9 percent although the board recommended a cash dividend of 2.00 riyals per share for 2015, up from 2014 and above NCB Capital's forecast of 1.75 riyals."
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