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Tuesday, 1 May 2018

MIDEAST STOCKS-Saudi falls on valuation concerns, Dubai hurt by DSI, DAMAC | Reuters

MIDEAST STOCKS-Saudi falls on valuation concerns, Dubai hurt by DSI, DAMAC | Reuters:

"Saudi stocks were down 0.6 percent in late morning trade on Tuesday as investors sold on concerns about rich valuations for blue-chip stocks after a rally this year.

Most Gulf markets were lower with Dubai falling 1.4 percent.

Al Rajhi Bank dropped 1.4 percent despite reporting a 7.3 percent rise in first-quarter net profit on Tuesday, marking the ninth quarter of earnings growth in a row."



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