Tuesday 5 May 2015

MIDEAST STOCKS-Saudi slips on strict foreign investment rules, weak data; Egypt jumps | Reuters

MIDEAST STOCKS-Saudi slips on strict foreign investment rules, weak data; Egypt jumps | Reuters:



"Saudi Arabia's bourse edged down on Tuesday after data showed the economy's non-oil growth was slowing and the kingdom's regulator announced no major changes in restrictive rules governing direct foreign investment in the stock market.




Other Gulf markets were mixed, while Egypt jumped on strong purchasing managers data.



The main Saudi stock index slipped 0.4 percent as a number of blue chips declined. Petrochemicals giant Saudi Basic Industries (SABIC) fell 1.3 percent and top lender National Commercial Bank lost 0.9 percent."



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