MIDEAST STOCKS-Gulf markets dip after oil retreats | Reuters:
"Most Gulf equity markets edged down in early trade on Wednesday after oil prices tumbled again, but stocks' losses were limited because global shares appeared to be steadying.
Oil futures plunged 8 percent on Tuesday, erasing all gains made on the previous day, after a stronger-than-expected build in U.S. crude oil inventories and weak U.S. manufacturing data. Oil has extended losses by more than 2 percent in Asian trade on Wednesday, with Brent back down at $48.41 a barrel.
But global equities, which had dropped on Tuesday because of poor manufacturing data from China, were in a better shape. Asian markets edged down at a much slower pace on Wednesday, while European bourses and Wall Street were expected to open higher."
'via Blog this'
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