Wednesday 11 May 2016

MIDEAST STOCKS-Major Gulf markets edge up, weak earnings hit Egypt | Reuters

MIDEAST STOCKS-Major Gulf markets edge up, weak earnings hit Egypt | Reuters:

"Most major Gulf stock markets edged up on Wednesday, buoyed by an overnight rise in oil prices and U.S. bourses, while Egypt's market was hit by weak corporate earnings.

Saudi Arabia's index closed 0.1 percent higher after rising as much as 0.5 percent at one stage. Much activity focused on second- or third-tier stocks favoured by local speculators. Saudi Printing and Packaging rose 1.3 percent in the heaviest trade since it listed in July 2007.

Publisher Saudi Research and Marketing surged 4.4 percent to 47.10 riyals, breaking out of the 36-45 riyal range it had traded in since mid-February."



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