MIDEAST STOCKS-Gulf loses steam as oil retreats; banks buoy Abu Dhabi | Reuters:
"Most Gulf stock markets lost steam on Monday as oil prices pulled back although strong fourth-quarter earnings at two major banks boosted Abu Dhabi, while Egypt resumed falling because of currency jitters.
Bourses in the Gulf had surged over the past few days as an oil price rebound encouraged investors to return to buy beaten-down stocks. This buying quickly diminished on Monday as Brent crude slipped 2 percent to below $35.50 a barrel.
The Saudi Arabian index edged down 0.2 percent as petrochemical stock retreated, with Saudi Basic Industries down 1.8 percent."
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