Sunday 22 May 2016

MIDEAST STOCKS-Gulf markets edge lower in early trade | Reuters

MIDEAST STOCKS-Gulf markets edge lower in early trade | Reuters:

"Stock markets in the Gulf edged down in early trade on Sunday as investors took profits, encouraged by a dip in Brent oil futures at the end of last week.

Riyadh's stock index lost 0.2 percent, weighed down by the petrochemical sector. Saudi Basic Industries, the largest listed stock by market value, was down 0.6 percent.

But some retail industry shares, which had largely been weak since reporting quarterly results last month, outperformed the market with Jarir Marketing up 0.2 percent. Shares in the company are however down 6.4 percent since last month."



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