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Tuesday, 6 December 2016

MIDEAST STOCKS-Saudi closes at one-year high; Egypt up but OTMT slides | Reuters

MIDEAST STOCKS-Saudi closes at one-year high; Egypt up but OTMT slides | Reuters:
"The petrochemical sector helped carry Saudi Arabia's stock market to a fresh one-year closing high on Tuesday after crude oil prices hit a 17-month peak, while Egypt's market followed global shares upwards.

The main Saudi index added 0.7 percent to 7,155 points in extremely heavy turnover with gainers outnumbering losers 139 to 18. The index is now up 3.5 percent year-to-date.

The petrochemical sector stayed strong; it has been contributing to the market's positive performance since Nov. 30, when crude prices rallied on the first OPEC deal to curb output in eight years."

'via Blog this'