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Thursday, 22 December 2016

MIDEAST STOCKS-Saudi edges up before budget, Egypt's rise slows | Reuters

MIDEAST STOCKS-Saudi edges up before budget, Egypt's rise slows | Reuters:
"Saudi Arabia's stock market edged up on Thursday before the release of the kingdom's state budget for 2017, while Egypt's uptrend slowed. Other Gulf markets were mixed in modest trading volumes.

The Saudi stock index added 0.4 percent. Much activity focused on second-tier stocks such as Saudi Printing and Packaging, which jumped 10 percent.

Saudi Electricity climbed 0.7 percent. Its 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."

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