Sunday 8 May 2016

MIDEAST STOCKS-Saudi rises after government reshuffle | Reuters

MIDEAST STOCKS-Saudi rises after government reshuffle | Reuters:

"Saudi Arabia's stock market rose in early trade on Sunday after the king announced a sweeping reorganisation of the economic policy-making apparatus, while most other Gulf bourses were firm.

The Saudi stock index climbed 1.0 percent in the first 15 minutes. Petrochemical shares were particularly strong with Saudi Basic Industries up 1.2 percent.

The Saudi reorganisation replaced the oil minister and central bank governor and restructured some major ministries."



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