MIDEAST STOCKS-Saudi plunges more than 6 pct, Egypt slides | Reuters:
"Saudi Arabia's stock market plunged more than 6 percent early on Sunday in response to a fresh tumble of oil and global equity prices, while Egypt's market also continued to fall sharply.
The Saudi index was down 6.5 percent in the first 15 minutes of trade after Brent oil slumped more than 6 percent to settle below $29 a barrel on Friday, capping a 13 percent decline for the week.
Riyadh has been putting in place austerity policies designed to stabilise government finances in an era of cheap oil, but analysts believe its budget calculations were based on an average oil price of about $40."
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