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Sunday, 6 August 2017

MIDEAST STOCKS-Saudi Arabia, Egypt outperform in weak region

MIDEAST STOCKS-Saudi Arabia, Egypt outperform in weak region:

"Saudi Arabia's stock market edged up on the back of modest gains in the banking sector on Sunday while Egypt imitated world markets' strong finish at the end of last week. Most other Middle Eastern bourses fell. The Riyadh index added 0.1 percent, remaining near a six-week low, as Samba Financial Group jumped 3.4 percent after its board recommended a cash dividend of 0.75 riyal for the first half of the year. The proposed cash outlay is two-thirds more than Samba's interim payout in 2016. Gulf General Cooperative Insurance jumped 4.6 percent after reporting a slight dip in second-quarter earnings, while Allianz Saudi Fransi Cooperative Insurance rose 0.7 percent after announcing a 24 percent jump in net income."



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