Wednesday 29 June 2016

MIDEAST STOCKS-Gulf pushes higher but volumes subdued | Reuters

MIDEAST STOCKS-Gulf pushes higher but volumes subdued | Reuters:

"Most stock markets in the Gulf nudged up on Wednesday, supported by recoveries in oil and global equity prices after the shock of Britain's vote to leave the European Union last week, but turnover was small before summer and Eid al Fitr holidays.

Riyadh's index added 0.3 percent, buoyed by the banking and telecommunications sectors, with phone operator Zain KSA climbing 1.3 percent to 7.95 riyals.

NCB Capital said in a note that strong revenue growth, improving market share and margin expansion were Zain KSA's main strengths."



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