MIDEAST STOCKS-Gulf markets soft after oil slips | News by Country | Reuters:
"Most Gulf stock markets fell on Sunday after Brent crude oil closed down nearly a dollar a barrel at $56.42 on Friday and many investors remained absent from the markets for extended holiday breaks.
Although markets have become less prone to panic sell-offs since Saudi Arabia announced late last month a 2015 state budget which maintains spending at a high level, many buyers may choose to stay on the sidelines until oil prices find a floor.
Saudi Arabia's main equities index edged down 0.6 percent with most sectors in the red. The kingdom's market is heavily weighted towards petrochemical producers, whose profits may be hurt if oil's weakness is prolonged."
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