MIDEAST STOCKS-Saudi Arabia drops to near-8 month low, major Gulf markets slide - Agricultural Commodities - Reuters:
Saudi Arabia’s stock market fell sharply to hit a near eight month low on Monday, as oil prices weighed on its financial and petrochemical shares, while other major Gulf markets slid in early trading.
Saudi’s index slumped 2.5 percent, with Seera Group dropping 4.7 percent after the travel operator posted a 40 percent drop in its first-quarter net profit, citing competitive pricing and higher costs.
Oil prices tumbled after President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies.
No comments:
Post a Comment