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Sunday, 15 January 2017

MIDEAST STOCKS-Gulf shares diverge in early trade, small caps support Saudi | Reuters

MIDEAST STOCKS-Gulf shares diverge in early trade, small caps support Saudi | Reuters:

"Stock markets in the Gulf diverged in early trade on Sunday with Saudi Arabia's bourse supported by small and mid-sized shares while profit taking weighed on Dubai and Abu Dhabi.

Saudi Arabia's index edged up 0.3 percent in the first half hour; Al Jouf Cement was the top gainer, jumping 5.8 percent.

Almarai rose 0.4 percent after the Gulf's largest dairy company reported a 1 percent increase in fourth-quarter net profit to 488.5 million riyals ($130 million), virtually meeting analysts' forecasts as sales rose marginally and the cost of sales fell."



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