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Tuesday, 1 November 2016

MIDEAST STOCKS-Saudi ends nine-day winning streak, rest of region mixed | Reuters

MIDEAST STOCKS-Saudi ends nine-day winning streak, rest of region mixed | Reuters:

"Saudi Arabia's stock market ended a nine-day rising streak on Tuesday as banking shares were hit by profit taking, while bourses in the rest of the region were mixed.

The Saudi stock index had surged 10.1 percent over the nine trading days through Monday, led by banks, after Riyadh's huge international bond issue reduced jitters about the economy's ability to cope with low oil prices and began to ease tight banking system liquidity.

On Tuesday, however, the index retreated 0.3 percent as the banking sector pulled back 0.6 percent. The biggest lender, National Commercial Bank, closed flat at 43.80 riyals."



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