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Friday, 28 October 2016

Longest Rally in Two Years for Saudi Stocks Buoyed by Bond Sale - Bloomberg

Longest Rally in Two Years for Saudi Stocks Buoyed by Bond Sale - Bloomberg:

"Saudi Arabian stocks extended the longest winning streak in more than two years on bets the government’s record bond sale would help it repay contractors and ease pressure on the kingdom’s finances.
Start your day with what’s moving markets.

The Tadawul All Share Index rose 0.9 percent in Riyadh on Thursday, ending the week 5 percent higher, the steepest increase in nine months. The gauge rose above its 50-day moving average for the first time since July. Banks led the advance, with all but one of the Tadawul All Share Bank Index’s 12 members posting gains. Lending costs between financial institutions declined for the first trading week in 14."



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