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Sunday, 5 February 2017

MIDEAST STOCKS-Saudi, Kuwait retreat; UAE bourses strong | Reuters

MIDEAST STOCKS-Saudi, Kuwait retreat; UAE bourses strong | Reuters:

"Saudi Arabia's stock market fell in a broad-based decline on Sunday and political tensions helped to pull down Kuwait, while United Arab Emirates bourses rose. The Saudi index closed 0.7 percent lower with decliners outnumbering advancers by 121 to 29. Atheeb Telecom , which jumped last week on news of a deal to sell part of its telecommunications tower network to Saudi Telecom , pulled back 3.9 percent. Loss-making Nama Chemicals, which soared late last month on news of a recovery plan, was also hit by heavy profit-taking, sliding 6.7 percent."



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