MIDEAST STOCKS-Gulf markets drop on oil but Saudi bounces from 8-month low | Reuters:
"Most Middle East stock markets
fell on Thursday as oil prices and global emerging market
equities extended their slump, but Saudi Arabia bounced off an
eight-month low and edged up after dropping for seven sessions
in a row.
The main Saudi stock index closed 0.3 percent
higher, having tumbled as much as 3.5 percent earlier in the
day. Most local stocks turned positive by the end of the
session, after heavy losses this month which saw the bourse lose
$50 billion in market capitalisation.
The market, which had shrugged off oil's weakness in June
and July, finally began to adjust to it this month, and is down
11.9 percent so far in August."
'via Blog this'
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