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Sunday, 29 January 2017

MIDEAST STOCKS-Saudi, Kuwait climb again as UAE, Qatar underperform | Reuters

MIDEAST STOCKS-Saudi, Kuwait climb again as UAE, Qatar underperform | Reuters:

"Middle East stock markets were mixed on Sunday as uptrends in Saudi Arabia and Kuwait continued to divert regional investors' money away from the United Arab Emirates and Qatar. The Saudi index, which climbed 3.8 percent last week, rose a further 0.7 percent. Miner Ma'aden jumped 5.3 percent after issuing a statement describing progress in expanding its phosphate and bauxite operations. Builder Khodari climbed 1.5 percent and Nama Chemicals jumped by its 10 percent daily limit for a second straight day after announcing the outline of a plan to recover from accumulated losses that exceeded 75 percent of its capital. The plan includes eventually increasing capital to finance production of speciality chemical products and boost capacity, and the sale of assets of an investment affiliate."



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