MIDEAST STOCKS-Bourses fall in broad sell-off after oil dips below $50 | Reuters:
"Shares in the Gulf fell in a broad sell-off on Monday as investors booked profits after a dip in oil prices. Egypt was lower as foreign funds exited positions.
Saudi Arabia's index lost 1.1 percent, its lowest close since April 11, before the kingdom announced plans to diversify away from hydrocarbon dollars. Eighty-eight percent of the shares closed down.
Petrochemical shares were the main drag with Saudi Basic Industries, the largest listed producer, dropping 1.8 percent, taking its losses to 3.0 percent since Brent prices fell back below $50 a barrel."
'via Blog this'
No comments:
Post a Comment