Monday 4 July 2011

Saudi market slips, banks push UAE indexes up

Saudi shares end lower as investors book profits ahead of second-quarter earnings.

Yet banks and petrochemicals are seen posting strong results to boost the kingdom's index.

“For banks, we are expecting good results,” says Youssef Kassantini, a Saudi-based financial analyst. “Most of the provisions were allocated in 2009 and 2010. The political fear is not there anymore, so investors are more encouraged.”


No comments:

Post a Comment