Saudi stocks slip on weaker oil prices as Qatar consolidates gains – Reuters
- Date: 15-Aug-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi stocks slip on weaker oil prices as Qatar consolidates gains – Reuters
Aug 14 (Reuters) - Saudi Arabia's stock market ended slightly lower on Sunday in response to Friday's fall in oil prices, while the Qatari index inched higher to notch up a third consecutive session of gains.
Oil prices, a key catalyst for the Gulf's financial markets, had dropped around 2% on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook.
Saudi Arabia's benchmark index (.TASI) eased 0.1%, hit by a 1.2% fall in Riyad Bank (1010.SE) and a 0.7% slip in Saudi British Bank (1060.SE).