Tuesday 22 August 2017

MIDEAST STOCKS-Al Rajhi Bank, Ma'aden boost Saudi; Dubai also outperforms

MIDEAST STOCKS-Al Rajhi Bank, Ma'aden boost Saudi; Dubai also outperforms:

"Saudi Arabia's stock market rose on Tuesday on the back of gains by Al Rajhi Bank and mining firm Ma'aden, while Dubai also outperformed most Gulf bourses although trading was thin. The Saudi stock index climbed 0.4 percent with Al Rajhi up 2.2 percent to 65.80 riyals, bringing its gains over the last five days to 4.9 percent. Of 14 analysts covering the stock, seven rate it a "buy" or "strong buy" and six rate it a "hold", according to Thomson Reuters data; their median target price is 70.90 riyals. Ma'aden rose 1.8 percent after international base metal prices surged to multi-year highs overnight."



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