Tuesday 18 June 2013

MIDEAST STOCKS-Saudi real estate extends rally to lift index; mkts mixed | Reuters

"A real estate stock rally extended in Saudi Arabia on Tuesday, helping lift the bourse for a third consecutive session, while foreign investors bought Egyptian bluechips battered by recent political turbulence.

The Saudi index rose 0.8 percent. Saturday's sharp drop, that wiped out nearly all the gains of the past four weeks on regional political tension, has brought back fresh buyers.

Real estate stocks outperformed the market, extending a rally driven by upbeat sentiment towards the sector; Makkah Construction and Taiba Holding jump 7.1 and 2.9 percent respectively."

'via Blog this'

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