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Tuesday, 30 August 2016

MIDEAST STOCKS-Gulf mostly rises but turnover low; Egypt climbs | Reuters

MIDEAST STOCKS-Gulf mostly rises but turnover low; Egypt climbs | Reuters:

"Most Gulf stock markets rose on Tuesday in response to firmer oil prices and global bourses but trading turnover in Saudi Arabia and Dubai was low, suggesting many investors did not expect an extended rally and were staying away.

Saudi Arabia's index gained 1.0 percent in a broad rise, with rising stocks outnumbering losers by 119 to 22. But the market recorded its second smallest daily volume this year. The smallest was on Aug. 21.

Major lender Al Rajhi Bank, which has dropped sharply in recent weeks because of concern about bad loans due to Saudi Arabia's economic slowdown, rose 2.3 percent."



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