MIDEAST STOCKS-Saudi stocks open down as investors abandon blue-chips | ZAWYA MENA Edition:
Saudi Arabian stocks opened down on Tuesday as investors shied away from blue-chip names, while other Gulf markets were largely flat as investors remain worried about the outlook for oil prices. Oil prices rose on Tuesday after Libya declared force majeure on some of its supplies, but high fuel prices and trade disputes are threatening to crimp demand. Al Rajhi Bank opened 0.9 percent down, while Saudi Basic Industries Corporation was 0.5 percent down.
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