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Thursday, 20 October 2016

MIDEAST STOCKS-Saudi equity investors cheer mega bond debut, SEC jumps on Q3 profit | Reuters

MIDEAST STOCKS-Saudi equity investors cheer mega bond debut, SEC jumps on Q3 profit | Reuters:

"Saudi Arabia's stock market rose in early trade on Thursday as the banking sector rallied following the kingdom's mammoth international bond sale, which could help to unclog liquidity bottlenecks in the economy. Other Gulf bourses were mixed.

Riyadh's stock index added 1.2 percent as all but three listed Saudi banks advanced, with Samba Financial Group , which earlier this week had reported a drop in third-quarter net income, adding 4.0 percent.

The kingdom conducted the largest emerging market bond sale on Wednesday, selling $17.5 billion of debt in the government's first international offer while attracting investor orders totalling almost four times that amount."



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