Sunday 15 October 2017

MIDEAST STOCKS-Saudi falls, most markets trade narrowly

MIDEAST STOCKS-Saudi falls, most markets trade narrowly:

"Most Middle East stock markets traded in narrow ranges on Sunday while Saudi Arabia was dragged down by several major blue chips.

The Saudi index dropped 0.7 percent as Al Rajhi Bank lost 1.0 percent and miner Ma‘aden sank 1.9 percent. Petrochemical producer Saudi Basic Industries fell 0.7 percent.

Insurers were roughly evenly split between gainers and losers after they tumbled last week on expectations for a shakeout in the sector caused by tougher regulation. Amana Insurance, which had plunged 14.9 percent last week, surged 5.8 percent in unusually heavy trade."



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