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Thursday, 5 January 2017

MIDEAST STOCKS-Most Gulf markets rise on firmer oil, upbeat global bourses | Reuters

MIDEAST STOCKS-Most Gulf markets rise on firmer oil, upbeat global bourses | Reuters:
"Saudi Arabian and United Arab Emirates stock markets made small gains in early trade on Thursday after oil prices rebounded overnight and global equity markets firmed.

The Saudi equities index rose 0.3 percent, partially recovering from Wednesday's 0.7 percent decline, as the petrochemical sector was bid up. Yanbu National Petrochemical jumped 4.6 percent after an hour of trade.

Some other large-caps which had been hit by profit-taking over the last two sessions also rose, with Al Rajhi Bank adding 0.8 percent. But peer Riyad Bank fell 0.9 percent after its board recommended a slightly lower cash dividend distribution for the second half of 2016 compared to the corresponding period in 2015."

'via Blog this'