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Saudi Arabia carried the Middle East stock markets to decline
3/11/2015 0:00
DUBAI -
fell major stock markets in the Middle East after the Standard & Poor's lowered the rating on the sovereign debt Arabia and kept the future outlook negative Kingdom, which attributed to damage to its public finances due to falling Alinvt.ulen prices have a credit rating downgrade direct financial effect on the Kingdom due to the low debt Foreign government and corporate Arabia.
and give Kalta Moody's and Fitch Arabia ratings higher than the Standard & Poor's.
However, the step by Standard & Poor's fueling investors' fears about the long-term financial situation to Saudi Arabia under the low price of oil and on monetary rationalization policies that Riyadh may have to be followed next year trend Almizanah.hobt to curb the Saudi market index deficit to 1.1 percent to 7046 points, approaching the level of technical support 6921 points, its lowest level in August Almadi.onazelt Development Bank contributed 3.3 percent and Emaar Economic City undeveloped industrial area a major 2.6 percent. But SABIC leader rose 0.6 percent.
Climbed Kingdom Investment Company Holding two percent after it said it would sell a stake of 29.9 percent in Saudi Research and Marketing Group compared to 837.2 million riyals ($ 223 million) in a private transaction at a price of 35 Saudi Riyals per share Aluahd.hobt index Dubai market 2.1 percent to 3431 points, down from the level of 3,500 points near the support that support the index since early September. The following technical support to the market 3241 point level, its lowest level in August.
And landed all ten stocks most actively traded on the stock exchange where they lost Arabtec Construction - which has projects in Saudi Arabia - 4.3 percent and dropped Market General Index of Abu Dhabi 0.5 percent, but the National Bank of Abu Dhabi, the largest bank Listed in the United Arab Emirates increased 1.7 percent after falling last week because of disappointing results in the third quarter of the year. The decline in Qatar's stock market index only 0.2 percent as it looks at the market as safe because of the high dividend and financial position comfortable Qatari government.
Recorded the stock a slight elevation in general in Kuwait markets, Oman and Bahrain, which has seen scant trading and then were less affected by the direction of the Saudi market. And National Bank of Oman climbed 7.3 percent share amid limited trading.
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