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Tuesday, 24 January 2017

MIDEAST STOCKS-Saudi continues rebound, Egypt pulls back | Reuters

MIDEAST STOCKS-Saudi continues rebound, Egypt pulls back | Reuters:

"Saudi Arabia's stock market continued rebounding on Tuesday in a generally strong Gulf region, while a drop by shares in real estate firm Emaar Misr dragged down Egypt.

The Saudi index climbed 1.1 percent, adding to Monday's 1.7 percent gain.

With the fourth-quarter earnings reporting season more or less over, many Saudi firms have posted flat or weak profits because of government austerity steps and a sluggish economy. Over half a dozen major firms, including food maker Savola and several banks, missed analysts' estimates by wide margins."



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