Google+ Followers

Thursday, 23 June 2016

MIDEAST STOCKS-Gulf nudges up in thin trade; Egypt bounces | Reuters

MIDEAST STOCKS-Gulf nudges up in thin trade; Egypt bounces | Reuters:

"Most stock markets in the Gulf made small gains on Thursday, but trading volumes were thin because of uncertainty over the result of Britain's vote on whether to stay in the European Union.

In Saudi Arabia, the main stock index closed up 0.3 percent with much activity focusing on insurance stocks. The sector's sub-index added 0.6 percent while the telecommunications sector rose 0.4 percent.

Arabian Pipes jumped 10 percent, its daily limit, for a third straight day. On Monday the company announced it had been awarded a contract worth 383 million riyals ($102.1 million) from Saudi Aramco, the state oil company, to supply it with welded steel pipes."



'via Blog this'

Peugeot-Citroen back on the road in Iran with deal to build cars | World news | The Guardian

Peugeot-Citroen back on the road in Iran with deal to build cars | World news | The Guardian:

"The French carmaker Peugeot-Citroen (PSA) has announced its return to Iran under a €400m joint venture with its old partner Iran Khodro in Tehran that has been made possible by the lifting of nuclear sanctions.

At the same time, Boeing has confirmed reports it will start selling airliners to Iran following the nuclear accord reached in 2015.

The first cars produced under the PSA venture are set to be sold in February, with the aim of producing 200,000 vehicles a year by 2018."



'via Blog this'

MIDEAST STOCKS-Gulf soft ahead of British EU vote | Reuters

MIDEAST STOCKS-Gulf soft ahead of British EU vote | Reuters:

"Stock markets in the Gulf were mostly soft in thin volumes in early trade on Thursday ahead of Britons' vote to decide whether to stay in the European Union.

Dubai's index edged down 0.3 percent, with stocks that had led advances over the past week pulling back. Dubai Parks and Resorts dropped 1.3 percent, but is still up 42 percent year-to-date.

In Abu Dhabi, the index was down 0.4 percent. National Bank of Abu Dhabi retreated 0.5 percent while Gulf Bank was flat; the shares soared earlier this week after the banks said they were in merger talks."



'via Blog this'