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Thursday, 26 January 2017

MIDEAST STOCKS-Gulf mixed, Egypt surges on international bond issue success | Reuters

MIDEAST STOCKS-Gulf mixed, Egypt surges on international bond issue success | Reuters:

"Gulf stock markets were mixed on Thursday, supported by strong global equities and oil prices, while Egypt surged on the back of the success of Cairo's international sovereign bond issue. The Saudi index edged up 0.1 percent though losing stocks outnumbered gainers by 99 to 52. Petrochemical blue chip Saudi Basic Industries added 1.0 percent, while telecommunications firm Zain Saudi rose 2.9 percent. Nama Chemicals jumped 9.6 percent on announcing the main elements of a recovery plan after accumulated losses exceeded 75 percent of its capital. The plan includes eventually increasing capital to finance production of specialty chemical products and boost capacity, and the sale of assets of an investment affiliate."



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