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Thursday, 29 December 2016

MIDEAST STOCKS-Gulf markets move sideways in early trade | Reuters

MIDEAST STOCKS-Gulf markets move sideways in early trade | Reuters:
"Gulf stock markets moved sideways in early trade on Thursday with few fresh incentives, after global bourses and oil prices lacked direction overnight.

Saudi Arabia's stock index edged down 0.1 percent in the first 20 minutes after profit taking in some second-tier petrochemical stocks which had surged on Wednesday. Petrochem continued climbing, however, adding 3.0 percent.

The banking sector index outperformed slightly, rising 0.2 percent after money supply data released late on Wednesday showed commercial bank deposits rose to their highest level this year in November - a fresh sign that a liquidity crunch due to low oil prices is easing."

'via Blog this'