MIDEAST STOCKS-Saudi tumbles on oil, earnings; other markets also weak | Reuters:
"Stock markets across the Middle East fell on Sunday after oil prices dropped again and Saudi Arabia, heavily influenced by the petrochemicals sector, led losses, hitting a four-month low.
The main Saudi index sank 3.2 percent to 8,807 points, its biggest daily loss since late March, with nearly all stocks in the red. It has no significant technical support left above the April low of 8,502 points.
Petrochemicals giant Saudi Basic Industries tumbled 3.9 percent. The company's profits have been hurt by the drop in oil prices over the last 12 months, and the commodity's fresh weakness is a concern for investors."
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