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Gulf markets are losing ground after oil tankers were sabotaged
14:59 - 13/05/2019
Information / Baghdad ..
All major Gulf markets fell on Monday amid surging geopolitical tensions after the UAE said four merchant ships were hit by sabotage near the emirate of Fujairah on Sunday.
In detail, Saudi Arabia's main index lost 0.8 percent, Al Rajhi Bank down 1 percent, and Saudi Basic Industries Corp (Sabic), the biggest petrochemical company, fell 0.9 percent.
The index rose about 19 percent by the end of April, and foreign investors led the upside, but has lost 6.8 percent since the beginning of this month amid global trade disputes and low oil prices and geopolitical tensions at the moment.
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