Monday 3 August 2015

MIDEAST STOCKS-Mobily drags on Saudi Arabian stocks; oil price weighs | Reuters

MIDEAST STOCKS-Mobily drags on Saudi Arabian stocks; oil price weighs | Reuters:



"Saudi Arabia's stock market slipped in early trade on Monday as telecommunications firm Mobily dropped after restating earnings and Egypt's bourse also edged down.



The main Saudi index fell 0.2 percent and the most traded stock, telecommunications firm Etihad Etisalat (Mobily) , dropped 3.0 percent after restating earnings for 27 months and posting a second-quarter loss.



The stock opened 10 percent down at 30.50 riyals, its lowest level since mid-2009, before paring its losses."



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