MIDEAST STOCKS-Most Gulf stocks slip on downbeat IMF forecast; Qatar ticks higher - Reuters:
Most of the major Middle East stock markets eased on Tuesday, after International Monetary Fund revised its growth projections downwards for the region due to the double blows of lower oil prices and the coronavirus crisis.
The COVID-19 pandemic has hit sectors such as tourism and trade, while low oil prices and crude production cuts have strained the finances of regional oil exporters and impacted remittances.
The benchmark index in Saudi Arabia slipped 0.3%, with Samba Financial Group losing 1% and Mobile Telecommunications sliding 5.7%.
The telecoms firm reported a net profit of 59 million riyals ($15.73 million) in the second-quarter, down from 130 million riyals a year earlier.
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