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Gulf stocks fall as oil prices decline
Published in The Saudi Gazette on 20 - 09 - 2011

cap stocks headed losers on Saudi stock market as declines in oil prices and global equities weigh.
The Kingdom's main index Tadawul All Share Index slipped 0.42 percent to 6,118.34 points Monday, extending declines for a second day since Saturday's six-week high.
All Saudi petrochemical stocks were down, with regional bellwether Saudi Basic Industries Corp (SABIC) falling 0.5 percent. Saudi Kayan Petrochemicals shed 0.3 percent, accounting for a third of trading in the sector. Yanbu National Petrochemical Co (Yansab) declined 0.9 percent.
New York's WTI light sweet crude for October delivery, dived $2.26 to close at $85.70 a barrel.
In London, Brent North Sea crude for November closed down $3.08 to $109.14.
The Kuwaiti Market Index declined 0.44 percent to close at 5,976.7 points.
Abu Dhabi's benchmark fell for a ninth straight session, down 0.3 percent to 2,564 points.
Dubai's index ended 0.6 percent lower at 1,463 points, halting a four-session uptrend as losers outnumbered gainers by 14 to three.
Qatar's bourse shed 0.3 percent to close at 8,406 points.
Oman's shares declined for a first session in five as investors reduced positions amid a shaky euro zone debt situation and murky global outlook. Muscat's index ended 0.1 percent lower at 5,735 points.


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