MIDEAST STOCKS-Gulf markets extend losses in early trade | Reuters:
"Gulf stock markets extended losses in early trade on Thursday with banks leading Saudi Arabia down, as investors continued to pull out of equities over concerns about the region's economic slowdown and policies of austerity.
The Saudi index, which on Wednesday fell below minor technical support on the April low of 6,066 points, sank a further 1.4 percent on Thursday morning to 5,946 points.
The banking index dropped 1.7 percent with Al Rajhi Bank SE> sliding 2.3 percent. Investors are worried about the impact of a severe slump in the Saudi construction sector on the quality of bank loans."
'via Blog this'
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