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Thursday, 22 December 2016

MIDEAST STOCKS-Gulf barely moves before Saudi budget | Reuters

MIDEAST STOCKS-Gulf barely moves before Saudi budget | Reuters:
"Gulf stock markets barely moved in quiet, early trade on Thursday before the announcement of Saudi Arabia's 2017 state budget, expected in the afternoon.

The Saudi stock index edged up 0.1 percent in the first 40 minutes. Much activity focused on second-tier stocks such as Saudi Printing and Packaging, up 4.9 percent, although Saudi Electricity rose 0.9 percent.

Saudi Electricity's profits rose in the wake of the 2016 state budget, which raised utility fees as well as domestic fuel prices. The company reported a 50.8 percent jump in third-quarter net profit."

'via Blog this'