MIDEAST STOCKS-Saudi leads Gulf lower as coronavirus fears escalate - Agricultural Commodities - Reuters:
Most Gulf stock markets opened lower on Monday, tracking weakness in global shares and oil prices, as the rapid spread of a coronavirus in several countries outside China soured sentiment.
Global shares extended losses as concerns about the impact of the virus grew, with sharp rises in infections in South Korea, Italy and Iran.
Brent crude fell by $1.42, or 2.4%, to $57.08 a barrel by 0552 GMT, but off a low of $56.53 touched earlier.
Saudi Arabia’s benchmark index declined 1.2%, dragged down by losses at banking shares. Al Rajhi Bank fell 1.1% while Riyad Bank slid 1.9%.
Amongst others, Saudi Basic Industries, the world’s fourth-biggest petrochemicals maker, lost 2.3%.
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