MIDEAST STOCKS-Markets tumble as retail players sell on Ukraine tensions | Reuters

MIDEAST STOCKS-Markets tumble as retail players sell on Ukraine tensions | Reuters:



"* Profit-taking after big run-ups in recent months



* But oil price rise would probably benefit Gulf



* Chairman of Kuwait's Ahli Bank fined over alleged insider trading



* Kuwait stock index closes below technical support 




* Qatar's Mesaieed plunges 10 pct for a second day



By Nadia Saleem

DUBAI, March 3 (Reuters) - Middle East stock markets slid on Monday as a heightened threat of armed conflict between Ukraine and Russia triggered widespread selling, despite the benefit of higher oil prices to Gulf energy exporters.



Brent crude oil jumped almost $3 to $111.98 per barrel but Asian and European stock markets fell roughly 2 percent or more, prompting retail investors in the Gulf, who have bid their markets up sharply in recent months, to take profits.



Cairo's benchmark index slid 2.7 percent, down for a second straight session from last week's 65-month high to trim its 2014 gains to 15.9 percent.



Saudi Arabia's bourse, whose heavyweight petrochemical firms stand to benefit the most from any surge in oil prices, slipped 0.8 percent. The petrochemical sector's index lost 1.0 percent."



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