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Monday, 10 October 2016

MIDEAST STOCKS-Banks lead Saudi rebound, Drake & Scull leaps in Dubai | Reuters

MIDEAST STOCKS-Banks lead Saudi rebound, Drake & Scull leaps in Dubai | Reuters:

"Saudi Arabia's stock market rebounded on the back of banking shares on Monday while other major Gulf bourses were firm, with builder Drake & Scull leaping in Dubai after it replaced its chief executive.

The Saudi stock index, which had tumbled 2.2 percent on Sunday as banks dropped because of concern about the impact of government austerity policies on their balance sheets, closed Monday 1.2 percent higher in moderate trading volume.

The banking index, which had plunged 4.5 percent on the previous day, bounced back 1.9 percent."



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