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Tuesday, 5 April 2016

MIDEAST STOCKS-Most of Gulf falls, Egypt rises before King Salman's visit | Reuters

MIDEAST STOCKS-Most of Gulf falls, Egypt rises before King Salman's visit | Reuters:

"Most of the Gulf's stock markets retreated on Tuesday as investors looked ahead to the first-quarter earnings reporting season, which is now starting, while Egypt rose.

The Saudi index slipped 0.2 percent to 6,201 points but closed 45 points above its intra-day low.

The main drag was the telecommunications sector, with Saudi Telecom (STC) dropping 2.0 percent as it went ex-dividend. Albilad Capital said in a note on Monday it expected STC's first-quarter bottom line to rise 7 percent year-on-year."



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