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Tuesday, 4 October 2016

MIDEAST STOCKS-Telecoms help Saudi rebound, rest of Gulf consolidates | Reuters

MIDEAST STOCKS-Telecoms help Saudi rebound, rest of Gulf consolidates | Reuters:

"Strong telecommunications shares helped Saudi Arabia's stock market rebound early on Tuesday after several days of losses, while other Gulf markets moved little.

The Saudi stock index, which has been tumbling because of concern about the impact of government austerity measures on the economy, gained 0.8 percent in the first 45 minutes of trade.

The main boost came from unusually heavy trade in the telecommunications sector, after the government said at the weekend that it would provide operators with "unified licences" allowing them to offer full range of services."



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