Tuesday 29 March 2016

MIDEAST STOCKS-Saudi falls after weak data, most bourses rise | Reuters

MIDEAST STOCKS-Saudi falls after weak data, most bourses rise | Reuters:

"Saudi Arabia's stock market fell sharply on Tuesday as petrochemical stocks sagged and the central bank reported weak economic data, but most major markets in the region gained.

The Saudi index fell 1.5 percent to 6,177 points, closing below its mid-March low of 6,202 points, which suggested an uptrend since mid-February may have ended. Trading turnover shrank, a sign that investors were pulling out of the market.

Petrochemical heavyweight Saudi Basic Industries tumbled 3.0 percent after the price of Brent crude oil fell back below $40 a barrel."



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