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Sunday, 25 September 2016

MIDEAST STOCKS-Major Gulf bourses retreat after crude tumbled; Telcos mixed | Reuters

MIDEAST STOCKS-Major Gulf bourses retreat after crude tumbled; Telcos mixed | Reuters:

"Petrochemical shares were the main drag on Saudi Arabia's equity index after oil prices fell 4 percent at the end of last week, while Qatar's main index regained some ground.

Riyadh's main index fell 0.6 percent to 5,913 points in low volumes, hitting a fresh 7-month low. Bellwether petrochemical producer Saudi Basic Industries declined 2.4 percent.

The retail segment was also weak, with one of the largest electronics stores, Jarir Marketing, dropping 2.0 percent."



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