Mideast Stocks: Oil prices, budget weigh on Saudi while banks bolster Dubai | ZAWYA MENA Edition:
Saudi Arabia's stock market fell sharply on Wednesday after oil prices sank and the government released its 2019 budget, while Dubai rebounded on the back of a rise in bank shares.
Brent oil fell below $56 a barrel to its lowest level in more than a year, pushing the Saudi stock index down 1.1 percent in its biggest one-day drop since late November.
Petrochemical shares fell, with Saudi Basic Industries dropping 2.4 percent, and Al Rajhi Bank shedding 1.4 percent.
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