MIDEAST STOCKS-Major Gulf markets fall as virus fears weigh on global sentiment - Reuters

MIDEAST STOCKS-Major Gulf markets fall as virus fears weigh on global sentiment - Reuters:

Major stock markets in the Gulf ended
lower on Thursday, tracking weakness in global shares and oil
prices, as the spread of a new coronavirus in China soured
sentiment.

Beijing has locked down Wuhan, a city of 11 million people,
considered the epicentre of a new coronavirus outbreak that has
killed 17 people, infected nearly 600 and rattled financial
markets around the globe.

Fears that spread of the virus from China could lower fuel
demand if it stunts economic growth pushed oil prices down more
than 1% on Thursday.

Saudi Arabia's benchmark index fell 0.5%, pulled
lower by Saudi Telecom Company.

The telco dropped 4.7%, its biggest one-day fall since May,
after it reported fourth-quarter profit of 2.41 billion riyals
($642.48 million), down from 3.11 billion riyals a year earlier.