MIDEAST STOCKS-Saudi leads Gulf stock declines amid coronavirus jitters - Agricultural Commodities - Reuters:
Major Gulf stock markets fell in early trade on Sunday following a decline in oil prices amid mounting economic worries from the spreading coronavirus, with Saudi Arabia leading the losers after a string of poor corporate earnings.
On Friday, Brent crude fell 13 cents to settle at $58.16 a barrel as authorities worldwide imposed travel restrictions to China, where the total number of coronavirus deaths reached 304 as of late Saturday.
Saudi Arabia’s benchmark share price index fell 1.3% on Sunday led by a 1.1% loss at Al Rjahi Bank.
Alinma Bank shed 3.5% after it said its annual net profit declined by 11.3%, while Saudi Arabian Mining lost 2.7%. On Thursday the Saudi miner reported an annual net loss of 739.5 million riyals ($197.14 million) compared with a profit of 1.85 billion riyals a year earlier.
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