Thursday 1 November 2018

MIDEAST STOCKS-Petrochemical firms weigh on Saudi, Most Gulf markets mixed | Reuters

MIDEAST STOCKS-Petrochemical firms weigh on Saudi, Most Gulf markets mixed | Reuters:

Saudi Arabia’s stock market edged lower in quiet trading on Thursday, pressured by petrochemical and bank shares, while Dubai gained on the back of real estate stocks.

The kingdom’s main index reversed course to fall 0.4 percent, a day after breaching its 200-day average for the first time in three weeks.

Middle East funds have become more wary, but not outright bearish, toward Saudi Arabia’s stock market because of concern over the fallout from the killing of Jamal Khashoggi, a monthly Reuters poll showed on Wednesday.

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