MIDEAST STOCKS-Saudi petchems down as first quarterly results weigh on soft market | Reuters

MIDEAST STOCKS-Saudi petchems down as first quarterly results weigh on soft market | Reuters:

Gulf stock markets mostly slipped on Sunday, following a series of disappointing corporate results in Saudi Arabia and a slide in global stocks.

The Saudi index lost 1.3 percent, with the whole petrochemicals sector in negative territory, despite a rise in oil prices late last week.

Advanced Petrochemical dropped 2.8 percent after reporting a slight decline in quarterly net income to 202 million riyals ($53.86 million). This was above analysts’ median forecast of 188 million riyals, according to Refinitiv data.