Thursday 16 June 2016

MIDEAST STOCKS-Gulf wilts in early trade as Brexit risk saps sentiment | Reuters

MIDEAST STOCKS-Gulf wilts in early trade as Brexit risk saps sentiment | Reuters:

"Stock markets in the Gulf edged down in early trade on Thursday after international bourses and oil markets slipped, partly because of fears that Britain might leave the European Union in next week's referendum.

Local day traders sold speculative Saudi Arabian shares. The insurance sector dropped 0.8 percent and was the main drag on Riyadh's index, which had edged down 0.3 percent after an hour of trade.

Dar Al Arkan, which soared last week on hopes it would benefit from building housing units as part of Saudi Arabia's economic reform programme, fell back 0.9 percent and was the most heavily traded stock."



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