Gulf shares pull back as Italy vote hits global market sentiment | The National:
"Stock markets in the Gulf fell in early trade on Monday as investors took profits on gains in the past few weeks after the mood in global markets darkened because of the ‘no’ vote in Italy’s referendum on constitutional reform.
The euro has dropped to a 20-month low and investors are exiting riskier assets after Italian prime minister Matteo Renzi said he would resign following the referendum defeat, which could destabilise the banking system of Europe’s third largest economy.
Riyadh’s main index lost 1.0 per cent after 70 minutes of trade with all but one of 14 listed petrochemical shares slipping. Blue chip producer Yanbu National Petrochemical fell 1.5 per cent."
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