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Tuesday, 30 May 2017

MIDEAST STOCKS-Gulf mostly rises, Qatar underperforms as Ezdan plunges again | Reuters

MIDEAST STOCKS-Gulf mostly rises, Qatar underperforms as Ezdan plunges again | Reuters:

"Most Gulf stock markets rose on Tuesday, with petrochemical shares pushing Saudi Arabia up, although Qatar dropped partly because of a fresh tumble by property firm Ezdan Holding. The Saudi index gained 0.7 percent in thin trade as the biggest petrochemical producer, Saudi Basic Industries , rose 1.0 percent and Saudi Kayan added 3.1 percent. Several other stocks favoured by foreign institutional investors also rose sharply. Food company Almarai climbed 2.9 percent and Banque Saudi Fransi surged 3.5 percent after its investment arm, Fransi Capital, said its Taleem real estate investment fund was heavily oversubscribed."



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