Mideast Stocks: #Saudi stocks fall before joining FTSE; major Gulf markets down | ZAWYA MENA Edition

Mideast Stocks: Saudi stocks fall before joining FTSE; major Gulf markets down | ZAWYA MENA Edition:

Saudi Arabian stocks fell on Tuesday, pulled down by financial shares before the market's inclusion in the FTSE Russell's emerging-market index. All major gulf markets slid.

Middle Eastern markets followed global cues, with oil prices dropping after China cut its 2019 economic growth target, dimming the outlook for fuel demand.

The Saudi index edged down 0.1 percent with AXA Cooperative Insurance declining 1.3 percent and Al Rajhi Co for Cooperative Insurance sliding 1.6 percent.