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Monday, 27 February 2017

MIDEAST STOCKS-Gulf falls on profit-taking; Egypt down on Q4 results | Reuters

MIDEAST STOCKS-Gulf falls on profit-taking; Egypt down on Q4 results | Reuters:

"Profit-taking dragged stock markets in the Middle East down on Monday, with Egypt lagging after some quarterly earnings failed to inspire.

Saudi Arabia's index lost 1.1 percent to 6,969 points, heading back down towards technical support at the mid-February low of 6,942 points. A little under nine-tenths of traded shares declined and trading volume was above the 10-day average.

All 14 listed petrochemical makers closed down with National Industrialization Company (Tasnee) the biggest loser, dropping 4.8 percent."



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