Sunday 13 March 2016

MIDEAST STOCKS-Gulf mixed as volumes decline; Egypt flat | Reuters

MIDEAST STOCKS-Gulf mixed as volumes decline; Egypt flat | Reuters:

"Stock markets in the Gulf were mixed on Sunday as trading volumes shrank from the previous week. Egypt closed flat, ending six days of gains.

Riyadh's index added 0.2 percent to 6,369 points, again shying away from technical resistance at its 100-day average, now at 6,510 points. The petrochemical sector added 0.7 percent.

Saudi Arabia Fertilizers (SAFCO) fell 0.4 percent after saying it was considering taking full control of chemical fertiliser producer National Chemical Fertilizers Co (Ibn Al-Bayttar) by buying out the 50 percent stake of Saudi Basic Industries (SABIC). SAFCO's shares fell 0.4 percent, as SABIC rose 0.7 percent."



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