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Monday, 24 October 2016

MIDEAST STOCKS-Saudi shares bounce as investors hunt for bargains; Egypt dips | Reuters

MIDEAST STOCKS-Saudi shares bounce as investors hunt for bargains; Egypt dips | Reuters:

"Saudi Arabia's stock market closed higher for a fourth straight session on Monday after last week's mega international bond sale by the government boosted sentiment, but Egyptian shares dropped further as a chronic dollar shortage weighed on sentiment.

Riyadh's stock index rose 1.0 percent, taking its gains over the last four sessions to 6.2 percent.

It underperformed the region earlier this year as low oil prices and government austerity measures hit the economy hard, so it may now have more room to snap back."



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