MIDEAST STOCKS-Saudi, Dubai slip in blue chip sell-off; banks support Egypt | Reuters:
"Stock markets in Saudi Arabia and Dubai fell back on Sunday after oil prices slumped further, while Abu Dhabi and Egypt were buoyed by banking shares.
Brent crude settled at $36.88 a barrel on Friday after hitting a session low of $36.41, just 21 cents above a 2004 bottom. Meanwhile, global bourses sank on economic growth worries, with the Dow closing over 2 percent lower.
In response, the Saudi benchmark retreated 1.6 percent to 6,931 points, erasing most of Thursday's 2.6 percent jump. Sellers dumped blue chips in the first hour and mostly sat out the rest of the session, waiting for the announcement of the kingdom's 2016 state budget, which is expected in the coming week and may include major spending cuts."
'via Blog this'
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