Wednesday 27 September 2017

MIDEAST STOCKS-FTSE worries weigh on Saudi although car insurers outperform

MIDEAST STOCKS-FTSE worries weigh on Saudi although car insurers outperform:

"Car insurance and rental companies were some of the chief gainers in a generally weak Saudi Arabian stock market early on Wednesday after news that women would be allowed to drive.

King Salman on Tuesday issued a royal decree lifting the driving ban; it will be implemented by June 24, 2018, according to state news agency SPA.

There are about 10 million women, including foreigners, over the age of 20 living in the kingdom. Shares in all of the 30 listed insurers that provide auto insurance rose, led by Alrajhi Co for Cooperative Insurance, which surged 9 percent."



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