Saudi Arabian Stocks Lead Mideast Drop as Oil Slide Saps Trading - Bloomberg Business

Saudi Arabian Stocks Lead Mideast Drop as Oil Slide Saps Trading - Bloomberg Business:

"Saudi Arabian stocks led a decline across most Middle Eastern markets amid reduced trading, as investors weighed the impact of plummeting oil prices.
The Tadawul All Share Index, the region’s biggest gauge, dropped 2.2 percent, extending its retreat this month to 12 percent. About 234 million shares were exchanged, or 9 percent less than the 30-day average. Qatari stocks fell 1 percent on about half the QE Index’s average volume. Trading in Dubai also slid.
“Investors are waiting until the end of the first quarter to see the impact of low oil prices and government cutting spending on corporate profits,” said Nabil Farhat, an Abu Dhabi-based partner at Al Fajr Securities."



'via Blog this'