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Wednesday, 21 September 2016

MIDEAST STOCKS-Gulf mixed with Saudi outperforming peers, Egypt loses steam | Reuters

MIDEAST STOCKS-Gulf mixed with Saudi outperforming peers, Egypt loses steam | Reuters:

"Bourses in the Gulf were mixed on Wednesday with Saudi Arabia's bourse supported by the petrochemical sector while Egypt lost steam as local and regional funds exited positions.

Saudi Arabia's index rose 0.4 percent in moderate trade as Brent prices firmed over $46 a barrel. Saudi Basic Industries, the petrochemical heavyweight, climbed 0.9 percent.

The insurance sub-index, usually actively traded by day traders, added 1.7 percent as almost all the constituents advanced, recouping some of the heavy losses of the week. BUPA Arabia, a mid-sized medical insurer, rose 2.9 percent."



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