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Wednesday, 17 May 2017

MIDEAST STOCKS-Large caps weigh on Saudi, Qatar; UAE indexes edge up | Reuters

MIDEAST STOCKS-Large caps weigh on Saudi, Qatar; UAE indexes edge up | Reuters:

"Declines in large caps weighed on Saudi stocks in early trade on Wednesday while the Dubai market rose as property developer DAMAC extended gains.

The Riyadh index was down 0.1 percent after 45 minutes of trade as a little under two-thirds of the 14 listed petrochemical producers fell. Heavyweight Saudi Basic Industries was down 0.8 percent.

Much activity focused on second and third-tier stocks. Saudi Paper Manufacturing was up 4.4 percent as about 2 million shares traded hands, more than double the usual daily volume."



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