Google+ Followers

Wednesday, 28 September 2016

MIDEAST STOCKS-Saudi leads region down on weak oil, austerity steps | Reuters

MIDEAST STOCKS-Saudi leads region down on weak oil, austerity steps | Reuters:

"Saudi Arabia's stock market fell sharply for a second straight day on Wednesday, leading the entire region down, in response to weak oil prices and government austerity measures.

The Saudi equities index, which had retreated 3.8 percent on Tuesday, sank a further 3.4 percent to 5,534 points, its lowest finish since Jan. 21. It has tumbled 19.5 percent from a peak in April.

Trading volume climbed to a two-month high as the index fell below technical support on the February low of 5,551 points, though it closed off its intra-day low. It has stronger support at the January low of 5,349 points."



'via Blog this'