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Wednesday, 7 September 2016

MIDEAST STOCKS-Gulf bourses fall as crude oil rebound slows | Reuters

MIDEAST STOCKS-Gulf bourses fall as crude oil rebound slows | Reuters:

"Stock markets in the Gulf declined on Wednesday as some investors stayed away ahead of market closures next week for Eid al-Adha holidays, and after recent gains in oil prices faded.

Riyadh's main index retreated 0.8 percent in the lowest trading volume this year as investors sold shares indiscriminately, with losers outnumbering gainers 111 to 34.

The petrochemical sub-index fell 0.7 percent with Saudi Basic Industries dropping 1.2 percent. Brent crude oil, which hit a one-week high of $49.40 a barrel on Monday after Russia and Saudi Arabia agreed to cooperate on stabilising the oil market, has dropped back to $47.18."



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