First Deadly Attacks, Now Greece; Saudi Stocks Can’t Get a Break - Bloomberg Business

First Deadly Attacks, Now Greece; Saudi Stocks Can’t Get a Break - Bloomberg Business:



"With the threat of militant attacks spreading across the Middle East still hanging in the air, a drop in the price of oil after Greek bailout talks collapsed has put more pressure on Saudi Arabian stocks.



Equities in OPEC’s biggest oil producer dropped 1.6 percent at the 3:30 p.m. close in Riyadh to the lowest in more than two months after the price of Brent crude sank as much as 3 percent. The Tadawul All Share Index’s slide brings its two-day decline to 3.3 percent, the most since March 26.



Oil prices fell on concern Greece’s failure to reach a deal with international creditors will prompt its exit from the euro area. The euro depreciated against the dollar as the government in Athens imposed capital controls and shut banks. Meanwhile in the Middle East, the Kuwaiti government yesterday identified the bomber who killed 26 worshipers in an attack on a Shiite mosque on Friday as a Saudi national."



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