MIDEAST STOCKS-Oil price dip pressures Saudi index | Reuters:
"Saudi stocks slid below a key barrier on Sunday, hurt by the latest drop in oil prices and concerns over valuations of blue-chip companies, while property and banking shares slipped in Dubai and Abu Dhabi after big gains last week. The Saudi index dropped 0.8 percent to 7,972 points, below the psychological barrer of 8,000 points. Oil refiner Petro Rabigh fell 1.1 percent and property company Dar Al Arkan slid by 3.3 percent. “It appears the market is reacting negatively to the decline in international oil prices,” said Muhammad Faisal Potrik, head of research at Riyad Capital. "
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