MIDEAST STOCKS-Weak oil, Saudi credit outlook cut to weigh on markets | Reuters:
"Further weakness in oil prices and the decision by Fitch Ratings to cut its outlook for Saudi Arabia's debt look set to weigh on Middle East stock markets on Sunday.
U.S. oil traded below $40 a barrel on Friday for the first time since the 2009 financial crisis, while Brent crude ended 2.5 percent lower at $45.46 a barrel. With no clear indication of where oil will bottom out, sentiment among Gulf equity investors is likely to stay fragile.
Meanwhile, Fitch lowered its outlook for Saudi Arabia to "negative" from "stable"; Standard & Poor's took this action in February while the third major rating agency, Moody's, has not so far done so."
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