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Tuesday, 25 October 2016

MIDEAST STOCKS-Banking shares buoy Saudi, EFG Hermes gains on U.S. expansion | Reuters

MIDEAST STOCKS-Banking shares buoy Saudi, EFG Hermes gains on U.S. expansion | Reuters:

"Banking shares boosted Saudi Arabia's stock market on Tuesday while the majority of other Gulf markets sagged on uninspiring quarterly results.

Egypt recovered sightly, but investors remain anxious over dollar shortage woes.

The Saudi stock market index gained 1.5 percent, its fifth consecutive session of gains as all 12 of the listed lenders advanced. Bank Aljazira was the top performer amongst its peers, jumping 6.5 percent. National Commercial Bank, the second largest by market value, gained 4.6 percent."



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