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Thursday, 6 October 2016

MIDEAST STOCKS-Saudi petchems rise, but most of Gulf weak | Reuters

MIDEAST STOCKS-Saudi petchems rise, but most of Gulf weak | Reuters:

"Saudi petrochemical shares continued rising early on Thursday, encouraged by strong oil prices, but most stocks in the region weakened in quiet trade.

The Saudi index edged up 0.2 percent after Brent oil futures rose as high as $52.09 per barrel overnight, the highest since early June.

National Petrochem, which surged 8.2 percent on Wednesday, climbed a further 3.0 percent to 15.60 riyals; NCB Capital and SICO upgraded their views of the stock this week, with targets of 17.30 and 19.00 riyals respectively."



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