Sunday 3 April 2016

MIDEAST STOCKS-Gulf markets retreat as oil tumbles again; Egypt ends flat | Reuters

MIDEAST STOCKS-Gulf markets retreat as oil tumbles again; Egypt ends flat | Reuters:

"Gulf stock markets retreated on Sunday after Brent crude oil pulled back below $39 a barrel, while Egypt's bourse erased early gains.

Brent fell 3 percent last week, although it finished the first quarter up 6 percent. In response, Riyadh's stock index fell 1.6 percent to a five-week low of 6,126 points, breaking technical support at its mid-March low of 6,202 points.

From Sunday, the Saudi market started trading at 10 a.m. local time (0700 GMT), an hour earlier than previously, and closed at 4 p.m. local time, half an hour earlier, as part of efforts to develop the market and link trading with other regional bourses."



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