MIDEAST STOCKS-Saudi, Egyptian markets sink on Greek crisis | Reuters

MIDEAST STOCKS-Saudi, Egyptian markets sink on Greek crisis | Reuters:



"Stock markets in Saudi Arabia and Egypt fell in early trade on Monday, joining a global market slide triggered by the Greek debt crisis.



Saudi Arabia does not depend on foreign investment and its government has huge fiscal reserves, so it is better insulated from any euro zone crisis than many emerging markets. But a crisis could pull down global oil prices, which might hurt Saudi petrochemical firms in particular.



Both the Saudi stock index and petrochemical giant Saudi Basic Industries dropped 1.2 percent. The mining company Ma'aden tumbled 4.3 percent."



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