Tuesday 27 March 2012

MIDEAST STOCKS-Most markets fall as traders hesitate ahead of Q1 - Yahoo! News UK

Most Gulf Arab markets fell on Tuesday as an early-year rally gave way to consolidation, with investors now wanting to see if first-quarter results can justify recent share price gains.
Saudi Arabia's index fell for a first session in five, slipping from Monday's 42-month high. Zain Saudi dropped 5.1 percent. The indebtedtelecoms operator's shares have gained 67 percent since late January, when it received approval to extend a 9.75 billion riyal ($2.6 billion) Islamic financing facility for an additional six months.

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