Tuesday 10 May 2016

MIDEAST STOCKS-Gulf bourses wilt as oil dampens sentiment | Reuters

MIDEAST STOCKS-Gulf bourses wilt as oil dampens sentiment | Reuters:

"Bourses in the Gulf edged lower on Tuesday after oil prices pulled back overnight and Asian shares weakened.

Brent oil futures were trading at $44.11 a barrel, near two-week lows, although they stabilised in early Asian trade on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan was near one-month lows.

Petrochemical shares were the main drag on the Saudi Arabian stock index with bellwether Saudi Basic Industries dropping 1.2 percent. The index fell 0.5 percent."



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