Tuesday, 21 May 2013

MIDEAST STOCKS-Saudi up for fifth session; regional mkts mixed | Reuters

"Saudi Arabia's bourse rose for a fifth straight session on Tuesday as renewed buying momentum in bluechips drove the index higher. Other regional markets were mixed.

Saudi Basic Industries Corp (SABIC), the world's largest chemicals producer, gained 1.6 percent, helping lift the sector's index by 1 percent.

Banking and petrochemical shares have underperformed the market for most of 2013 but are now catching up due to attractive valuations, according to analysts. Some concerns however, remain."

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