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Sunday, 26 February 2017

MIDEAST STOCKS-Gulf moves little but new listings surge on Saudi secondary market | Reuters

MIDEAST STOCKS-Gulf moves little but new listings surge on Saudi secondary market | Reuters:

"Gulf stocks generally moved little in thin trade on Sunday but new listings surged on Saudi Arabia's secondary market as that bourse, which has less onerous listing requirements than the main Riyadh market, opened its doors for the first time. The main Saudi index edged up 0.1 percent. Real estate investment trusts, which have been soaring since Al Jazira Maten REIT listed in mid-February, continued to rise in heavy trade; Al Jazira climbed 9.8 percent and Riyad REIT gained 9.4 percent. In the new Saudi Parallel Market, all seven stocks jumped their 20 percent daily limits. They included retailer Abo Moati Stationaries, restaurant operator Raydan Cuisines and Al-Omran Industrial and Trading Co."



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