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Wednesday, 3 May 2017

MIDEAST STOCKS-Saudi drops with oil; no boost from prince's interview | Reuters

MIDEAST STOCKS-Saudi drops with oil; no boost from prince's interview | Reuters:

"Saudi Arabian stocks fell on Wednesday after oil prices slipped, while an interview by the top economic policy official, Deputy Crown Prince Mohammed bin Salman, did little to boost sentiment. Other regional bourses were mixed in quiet trade.

Advanced Petrochemical dropped 2.5 percent after the polypropylene maker posted first-quarter net income of 124 million riyals ($33.1 million), down 12.9 percent from a year ago and below NCB Capital's prediction of 149 million riyals.

Other petrochemical makers were also weak after Brent crude slipped below $51 a barrel overnight to its lowest close this year. Riyadh's stock index lost 0.6 percent in modest trading volume."



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