MIDEAST STOCKS-Gulf tensions weigh on Saudi market, Abu Dhabi extends winning streak - Agricultural Commodities - Reuters:
Saudi Arabia's stock market dropped on
Monday as banks and petrochemical shares weighed on the index
against a backdrop of political tensions in the region, while
Dubai and Abu Dhabi bourses rose sharply on gains in their
blue-chip stocks.
Saudi's main index fell 0.6%. The kingdom's largest
petrochemical maker Saudi Basic Industries shed 1.8%
and its biggest lender National Commercial Bank was
down 0.7%.
Weakness in worldwide demand for oil shifted sentiment in
the oil market in recent days, with hedge funds, producers and
traders all taking a more bearish tack.
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