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Wednesday, 26 October 2016

MIDEAST STOCKS-Gulf markets weighed by low oil prices, weak earnings | Reuters

MIDEAST STOCKS-Gulf markets weighed by low oil prices, weak earnings | Reuters:

"Gulf stock markets saw lacklustre trade on Wednesday as low oil prices and weak earnings weighed on investor sentiment.

Crude prices declined for a third day, hovering near $50 a barrel for the first time in three weeks, amid doubts that OPEC members will agree to a cut output.

"Investor sentiment appears to be weak in general on low earnings visibility," said Vijay Harpalani, fund manager at Dubai-based Al Mal Capital."



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