MIDEAST STOCKS-Saudi soft on oil, property shares boost Egypt | Reuters:
"Saudi Arabia's stock market was soft in early trade on Tuesday in response to weak oil prices, while real estate stocks, seen as a hedge against currency depreciation, boosted Egypt.
Brent crude sank nearly 4 percent overnight and remained under pressure in Asian trade on Tuesday. This helped to push the Saudi stock index down 0.3 percent in the opening minutes.
Some shares tumbled in response to poor third-quarter earnings, with Saudi International Petrochemical Co (Sipchem) down 6.1 percent after it reported a 55.4 percent slump in net profit to 71.6 million riyals ($19.1 million). Analysts had forecast 122.9 million riyals."
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