MIDEAST STOCKS-Gulf markets edge down as oil ends rally | Reuters:
"Most Gulf stock markets closed lower on Thursday as oil prices pulled back after a rally, and heavy profit-taking hit the Dubai bourse after speculative buying earlier in the week.
Saudi Arabia's main index slipped 0.2 percent and leading petrochemicals firm Saudi Basic Industries edged down 0.3 percent, tracking oil, which fell after the World Bank cut its global economic growth forecast.
The Saudi banking sector gave up early gains and fell 0.6 percent. But food retailer Abdullah Al Othaim Markets Co climbed 2.3 percent to 110.00 riyals after Deutsche Bank raised its price target for the stock to 120 riyals from 103."
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