Thursday 10 December 2015

MIDEAST STOCKS-Saudi remains weak; Egypt up for second day | Reuters

MIDEAST STOCKS-Saudi remains weak; Egypt up for second day | Reuters:

"Egypt's market rose slightly on Thursday, while Saudi Arabia's index again slipped back below a psychological support level, with investors wary ahead of the release of the kingdom's 2016 annual budget later this month.

Riyadh's bourse dipped 0.3 percent to just below 7,000 points and within 120 points of November's 35-month low.

"Investors are holding off on entering the markets," said a Riyadh-based portfolio manager. "The budget announcement will be the decisive factor (for deciding) trade positions.""



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