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Wednesday, 7 September 2016

MIDEAST STOCKS-Gulf mixed in early trade, Saudi's Emaar climbs | Reuters

MIDEAST STOCKS-Gulf mixed in early trade, Saudi's Emaar climbs | Reuters:

"Stock markets in the Gulf were mixed in quiet early trade on Wednesday as some investors stayed away from the bourses ahead of market closures next week for Eid al-Adha holidays.

Riyadh's main index was down 0.2 percent in the first hour. Emaar the Economic City rose 2.9 percent after it said on Wednesday that an affiliate had obtained a 2.7 billion riyal ($720 million) Islamic loan from banks to finance the second phase of building King Abdullah Port.

Amana Cooperative Insurance jumped 3.5 percent after the board recommended a 56.3 percent share capital reduction through a reverse stock split of 1.125 shares for every two shares held."



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