Sunday 26 January 2020

MIDEAST STOCKS-Major Gulf stocks slide on concern over spreading coronavirus - Agricultural Commodities - Reuters

MIDEAST STOCKS-Major Gulf stocks slide on concern over spreading coronavirus - Agricultural Commodities - Reuters:

All major stock markets in the Gulf opened lower on Sunday following a fall in crude prices over concerns that a coronavirus will spread farther in China, curbing travel and oil demand.

On Friday, Brent crude settled at $60.69 a barrel, down $1.35, or 2.2%.

More than 2,000 people globally have been infected with a new coronavirus, the vast majority of them in China, where 56 people have died from the disease, according to figures released on Sunday.

In Saudi Arabia, the index fell 0.6% with Saudi Aramco declining 0.9% and Al Rajhi Bank shedding 0.6%.

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