MIDEAST STOCKS-Saudi stocks fall, led by banks, petchems, after Fitch downgrade - Agricultural Commodities - Reuters:
Saudi Arabia’s stock market fell in early trade on Tuesday, with financial services leading the declines.
Petrochemical shares also fell after Fitch downgraded oil giant Saudi Aramco (IPO-ARMO.SE) and Saudi Basic Industries Corporation (SABIC), following mid-September attacks on the kingdom’s oil facilities.
Fitch on Monday downgraded Saudi Aramco and SABIC to A from A+ after the attacks last month on two oil production facilities. It also considered rising geopolitical tensions in the region and the country’s continued fiscal deficit.
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