Monday, 27 July 2015

MIDEAST STOCKS-Oil, earnings and global equities weigh on Gulf | Reuters

MIDEAST STOCKS-Oil, earnings and global equities weigh on Gulf | Reuters:



"Middle East stock markets extended losses on Monday because of mostly disappointing earnings announcements, a fresh drop in oil prices, and a decline in global equities following a fresh rout in China.



Brent dropped 2 percent and all major stock benchmarks fell after the CSI300 index of the largest listed companies in Shanghai and Shenzhen tumbled 8.5 percent.



The main Saudi stock index fell 2.4 percent, its biggest daily drop in four months, as stocks in the petrochemicals sector led losses."



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