MIDEAST STOCKS-Saudi slumps to 3-week low as oil drop weighs on Gulf mkts | Agricultural Commodities | Reuters:
"Saudi Arabia's stock index slumped to a three-week low on Wednesday as weak oil prices sparked a sell-off in Gulf markets.
The Saudi benchmark ended down 1.6 percent at 9,629 points, although late buying helped it rebound from an intra-day low of 9,436. That improvement coincided with gains in U.S. stock futures after Republicans secured control of the U.S. Senate in mid-term elections.
The Saudi bourse ceases trading at 1230 GMT and so can react to U.S. pre-market indicators, whereas other Gulf markets close hours earlier and so were more affected on Wednesday by gloomy Asian stocks and downbeat oil prices."
'via Blog this'
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