MIDEAST STOCKS-Saudi market falls for fourth day, region awaits Q1 earnings | ZAWYA MENA Edition:
"Saudi Arabia's stocks opened lower on Tuesday, dropping for the fourth straight session, as the index continued to lose momentum after gaining sharply ahead of FTSE Russell's decision last week to upgrade the bourse to emerging market status. Other Gulf markets were trading in a narrow range in the absence of fresh cues ahead of quarterly earning announcements for companies, which began this week. The positive news about Saudi Arabia's inclusion in the secondary FTSE emerging market index from next March was mostly priced in, prompting investors to book profits. The Saudi index was down 0.2 percent in late morning trade, dragged down by petrochemicals and financials. Yanbu National Petrochemicals dropped 1.3 percent while Banque Saudi Fransi was down 0.6 percent."
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