MIDEAST STOCKS-Major Gulf markets mixed; S&P revises #Kuwait's outlook - Reuters

MIDEAST STOCKS-Major Gulf markets mixed; S&P revises Kuwait's outlook - Reuters:

Major stock markets in the Gulf were mixed in early trade on Sunday, while the Kuwaiti index underperformed the region after S&P Global Ratings revised the Gulf state’s outlook to ‘negative’ from ‘stable’.

The ratings agency said it expects Kuwait’s main liquidity buffer, the General Reserve Fund (GRF), to be insufficient to cover central government deficit.

Saudi Arabia’s benchmark index edged up 0.2%, helped by a 3.5% leap in Jabal Omar Development and a 2% gain in Saudi British Bank.

But oil giant Saudi Aramco dropped 0.5%.

Talks over the sale of a 20% stake in Reliance Industries Ltd to Saudi Aramco have stalled over price, Reuters reported, citing four sources familiar with the matter.