Monday 2 May 2016

MIDEAST STOCKS-Gulf markets fall; Emaar Properties drops after earnings | Reuters

MIDEAST STOCKS-Gulf markets fall; Emaar Properties drops after earnings | Reuters:

"Stock markets in the Gulf fell on Monday after oil prices pulled back and Dubai blue chip Emaar Properties dropped following the release of its first-quarter earnings.

Saudi Arabia's index slipped 0.6 percent as petrochemical shares in particular were weak, with Saudi Basic Industries losing 1.2 percent.

Saudi Arabian Mining Co retreated 3 percent after jumping by its 10 percent daily limit on Sunday on news that the miner had reshuffled its board and appointed the chairman of state oil giant Saudi Aramco, Khalid al-Falih, as its own chairman as part of a government drive to develop the mining sector."



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