MIDEAST STOCKS-Gulf markets fall on oil; Egypt jumps after gas find | Reuters:
"Most Gulf stock markets fell on
Monday, tracking volatile oil prices, while Egypt's bourse
jumped after energy major Eni announced a potentially huge
natural gas discovery off the country's coast.
The main Saudi Arabian stock index dropped 2.2
percent, closing August with a 17.3 percent loss, its biggest
monthly drop since October 2008. Like other Gulf markets, it
swung wildly during the month in response to oil price changes;
at its bottom on Aug. 24, the benchmark was 30.9 percent down
month-to-date.
All sectors fell on Monday as Brent oil dipped back below
$49 a barrel, pressured by a supply glut and renewed concern
about a hard landing for China's economy."
'via Blog this'
No comments:
Post a Comment