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Wednesday, 3 May 2017

MIDEAST STOCKS-Saudi slips after oil falls, prince's interview has little impact | Reuters

MIDEAST STOCKS-Saudi slips after oil falls, prince's interview has little impact | Reuters:

"Saudi Arabia's stock market fell in early trade on Wednesday after oil prices slipped, while a televised interview by the top economic policy official, Deputy Crown Prince Mohammed bin Salman, did little to boost market sentiment.

Advanced Petrochemical dropped 3.2 percent after the polypropylene maker posted first-quarter net income of 124 million riyals ($33.1 million), down 12.9 percent from a year ago and below NCB Capital's prediction of 149 million riyals.

Other petrochemical makers were also weak after Brent crude slipped below $51 a barrel overnight to its lowest close this year. Riyadh's stock index was down 0.3 percent after half an hour of trade."



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