MIDEAST STOCKS-Gulf markets drop on oil, IQ leads Qatar down | Reuters

MIDEAST STOCKS-Gulf markets drop on oil, IQ leads Qatar down | Reuters:

"Gulf stock markets fell early on Wednesday after oil prices slid and Asian bourses dropped sharply following a sizeable fall on Wall Street. Qatar was hit hardest as petrochemical producer Industries Qatar tumbled.

Dubai's index fell 1.1 percent in the opening 45 minutes as Emaar Properties dropped 2.7 percent.

Courier firm Aramex edged down 0.3 percent after reporting a 36 percent fall in fourth-quarter net profit to 57.6 million dirhams ($15.7 million); SICO Bahrain had forecast 97.6 million dirhams."



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