Thursday 9 June 2016

MIDEAST STOCKS-Saudi gains for second day on reforms; higher oil lifts Gulf shares | Reuters

MIDEAST STOCKS-Saudi gains for second day on reforms; higher oil lifts Gulf shares | Reuters:

"Saudi Arabia's stock index rose 1.1 percent on Wednesday as investors accumulated shares in companies set to benefit from economic reform plans, while oil hitting fresh 2016 highs buoyed investor mood across the region.

Saudi Arabia's Dar Al Arkan Real Estate Development Co jumped 9.2 percent to 5.95 riyals, surging by its daily limit for a second straight day.

After the market close on Tuesday, the developer said it was in talks with the government to provide housing under the kingdom's economic reform plan. It did not give further details."



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