Arab Today, arab today gulf stocks reel on sliding oil prices
Last Updated : GMT 12:22:11
Arab Today, arab today
Arab Today, arab today

Gulf stocks reel on sliding oil prices

Arab Today, arab today

Arab Today, arab today Gulf stocks reel on sliding oil prices

Saudi Tadawul All-Shares Index
Kuwait City - AFP

Share prices in energy-rich Gulf Arab states fell sharply at the start of the week Sunday, dragged down after oil prices plunged to new lows.
The decline was across the board on almost all of the region's seven bourses, as investors went into a panic sell-off soon after trading kicked off.
Dubai's benchmark DFM Index lost 6.2 percent to 3,373.51 points, pulled down by market leader Emaar Properties, which shed 8.0 percent, and construction giant Arabtec, which lost 7.2 percent.
The index shed 7.2 percent on Thursday.
Abu Dhabi Securities Exchange recovered slighty at mid-session, trading down 3.6 percent at 4,212.07 points with energy stocks declining 5.3 percent and the real estate and banking sectors also falling.
The Saudi Tadawul All-Shares Index, the largest in the Arab world, dipped 3.3 percent to 8,113.22 points, a 12-month low.
Leading the decline was the petrochemicals sector, with Saudi Basic Industries Co. SABIC losing 5.6 percent.
The main index on the Qatar Exchange, the second biggest bourse in the Gulf, dived 7.2 percent to 10,959.0 points, a level last seen in early January. Market leaders in banking and industry contributed to the slide.
Kuwait Stock Exchange deepened losses, losing 3.2 percent to 6,254.62 points, a 22-month low, despite the listing of VIVA, a third mobile phone operator 26 percent-owned by Saudi Telecom.
The Muscat Securities Market lost 2.72 percent to 5,649.49 points, while the Bahrain bourse was unchanged.
Global oil prices tanked Friday to fresh five-year lows after a gloomy crude demand downgrade from the International Energy Agency (IEA) and more weak Chinese economic data.
US benchmark West Texas Intermediate for January delivery plunged to $58.80 per barrel -- the lowest level since May 20, 2009 -- having already closed under the psychological level of $60 on Thursday.
Brent crude for January meanwhile slipped to $62.75 in morning London deals, striking a low point last witnessed on July 16, 2009.
The oil market -- which has shed almost 50 percent since June -- plumbed the latest lows after the Paris-based IEA slashed its 2015 demand outlook, despite plunging prices.
The six nations of the Gulf Cooperation Council -- Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates -- depend heavily on oil revenues which make up around 90 percent of their total income.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf stocks reel on sliding oil prices Arab Today, arab today gulf stocks reel on sliding oil prices

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people

GMT 17:51 2017 Monday ,27 March

Singapore stocks close 0.51% lower

GMT 17:28 2017 Monday ,27 March

Vietnam's capital Hanoi stock index ends up

GMT 16:09 2017 Monday ,27 March

Seoul shares end lower

GMT 13:54 2017 Monday ,27 March

Bahrain Bourse daily trading report

GMT 11:48 2017 Sunday ,26 March

US stocks decline on Trump policy uncertainty
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 06:04 2017 Tuesday ,28 March

Saudi Arabia ranks 3rd globally for smartphone use

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday