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Sunday, 28 August 2016

MIDEAST STOCKS-Saudi and Qatar rebound, rest of Gulf mixed | Reuters

MIDEAST STOCKS-Saudi and Qatar rebound, rest of Gulf mixed | Reuters:

"Stock markets in Saudi Arabia and Qatar made a partial recovery on Sunday from last week's losses, with other Gulf markets mixed in quiet trade.

Saudi Arabia's index added 0.5 percent in the first hour of trading. Petrochemicals group Saudi Basic Industries SE> dropped 1.5 percent as it went ex-dividend, but many stocks reliant on domestic demand gained ground after sliding last week on concern over the kingdom's economic slowdown.

Builder Abdullah Abdul Mohsin al-Khodari and Sons climbed by 8.6 percent after it renewed a 132 million riyal ($35.2 million) Islamic credit facility, allowing it to obtain working capital for projects, and won a 69 million riyal contract from the water ministry."



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