Gulf markets extended declines Sunday as concerns over the euro zone crisis and unrest in Egypt and Syria weighed on investor sentiment. Saudi stock benchmark Tadawul All Share Index eased 0.16 percent to close at 6,047.91 points - its lowest close since Oct. 5. Petrochemical stocks dragged the index, as slumping crude prices weighed on sentiment in the world's top oil exporter. Brent crude also fell Friday on concerns that demand for oil will be hurt by Europe's spreading debt crisis that also weakened the euro against the dollar. Heavyweight Saudi Basic Industries Corp. (SABIC) lost 0.6 percent and Sahara Petrochemical dropped 3.1 percent. Elsewhere, the Abu Dhabi index eased 0.09 percent to its lowest close since March 2009. In Dubai, the index slipped 0.4 percent to 1,343 points, a new seven-year low. Qatar benchmark inched down 0.08 percent to 8,558 points. Meanwhile, bourses in Kuwait, Oman, Egypt and Bahrain were closed to mark the Islamic New Year. “Global concerns are coming down on retail investors ... no one wants to take extra risks at this time,” said Marwan Shurrab, vice president and chief trader at Gulfmena Alternative Investments.
