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Thursday, 2 February 2017

MIDEAST STOCKS-Most of Gulf slips, Egypt rebounds from Trump-linked slide | Reuters

MIDEAST STOCKS-Most of Gulf slips, Egypt rebounds from Trump-linked slide | Reuters:

"Most Gulf stock markets were weak on Thursday but Egypt's bourse rebounded after sliding for three days partly on concern that U.S. President Donald Trump's policies could hurt the economy.

The Saudi index edged down 0.03 percent as loss-making Nama Chemicals, which had soared 37 percent in the four days through Tuesday after it announced the outline of a recovery plan, pulled back 6.3 percent.

Atheeb Telecom surged to its 10 percent daily limit, however, after jumping 9.4 percent on Wednesday in response to the sale of some of its tower network for 230 million riyals ($61.3 million) to Saudi Telecom Co.

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