Investors will look to Saudi Arabia this week as the earnings-reporting season has got off to an encouraging start on the region's biggest bourse. Companies including the dairy and food producer Almarai, the property developer Dar Al Arkan, and Yanbu Cementposted profit increases yesterday.
"People are more conservative rather than risk-takers at the moment due to volatility on international, particularly European, markets," said Marwan Shurrab, the vice president and chief trader at Gulfmena Investments, an asset-management firm in Dubai.
Yanbu Cement reported a 44 per cent rise in second-quarter profit from a year earlier to 216 million riyals amid greater output and higher revenue.
No comments:
Post a Comment