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Monday, 24 October 2016

MIDEAST STOCKS-Saudi continues rebound, rest of Gulf soft | Reuters

MIDEAST STOCKS-Saudi continues rebound, rest of Gulf soft | Reuters:

"Saudi Arabia's stock market continued rallying early on Monday after last week's big international bond sale by the government boosted sentiment, but other Gulf markets were soft after some weak third-quarter earnings.

The Saudi stock index rose 0.8 percent in the first hour. It underperformed the region earlier this year as low oil prices and government austerity measures hit the economy hard, so may now have more room to snap back.

Petrochemical and industrial firm Alujain jumped 6.1 percent after it said it would distribute a 0.5 riyal per share dividend for 2016 - its first dividend since 1998."



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