Mideast Stocks: Global market woes hurt Gulf, merger talk sends Riyad Bank to 4-year high | ZAWYA MENA Edition:
The Saudi market fell on Tuesday, as plunging oil prices pressured petrochemical stocks, while Riyad Bank was the top gainer, reaching a four-year high after saying it was in merger talks with National Commercial Bank (NCB).
The Dubai index was the sole gainer of the session, inching up on the back of rises in its banking shares, with most major Gulf bourses slipping on tepid global sentiment and weak oil prices.
Oil prices plunged to their lowest level in more than a year on Monday, as fears of an economic slowdown weighed on the market.
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