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Sunday, 5 March 2017

MIDEAST STOCKS-Most of Gulf falls, Egypt buoyed by gradual stamp duty plan | Reuters

MIDEAST STOCKS-Most of Gulf falls, Egypt buoyed by gradual stamp duty plan | Reuters:

"Most Gulf bourses fell in light trade on Sunday, with Dubai's index dropping below technical support while Egypt continued to firm on the news that authorities would tax stock market transactions only gradually. Saudi Arabia's index lost 0.7 percent, with about 70 percent of stocks dropping. Most petrochemicals shares fell, including a 1.8 percent decline for Saudi Kayan Petrochemical . Tourism company Al Tayyar Travel slumped 5.1 percent in heavy trade after it denied local media reports that it had signed 5 billion riyals ($1.3 billion) of deals with Indonesian companies for religious tourism."



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