A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. REUTERS/Faisal Al Nasser
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Saudi stocks slumped to their weakest level in more than two weeks Sunday, hurt by the latest slump in oil prices, which also dragged most Gulf markets lower.Oil refiner Petro Rabigh dropped 1.7 percent and National Commercial Bank fell 0.6 percent.Saudi insurance firm Mediterranean and Gulf Cooperative Insurance and Reinsurance (MedGulf) was also down 1.1 percent despite reporting a 70 percent rise in third-quarter net profit.Najran Cement ended 3.1 percent higher and Southern Cement surged over 6 percent.Emaar Properties dropped 0.8 percent and DAMAC Properties fell 1.4 percent.
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