MIDEAST STOCKS-Oil and global stock slide hits Gulf but COMI buoys Egypt | Reuters:
Major Gulf stock markets fell on Thursday because of sliding oil prices and weak global bourses after the U.S. Federal Reserve hiked interest rates, but Commercial International Bank (COMI) boosted Egypt’s index.
Saudi Arabia’s stock index fell for a third straight session, slipping 1.4 percent and dropping back below the 100-day-moving average at 7,841 points, a negative technical sign.
All 14 petrochemical stocks retreated in response to the drop of oil prices to their lowest levels in more than a year, with Saudi Basic Industries dipping 1.2 percent.
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