MIDEAST STOCKS-Most markets pull back on weak Q4 results, dividends | Reuters:
"Saudi Arabia's stock market pulled back on Thursday after gaining strongly earlier in the week, while disappointing dividends and earnings weighed on other Gulf markets.
The main Saudi stock index edged down 0.4 percent as some of the stocks which had driven its rally in the last few days retreated. Petrochemicals major Saudi Basic Industries dropped 2.6 percent and Samba Financial Group lost 1.0 percent.
Telecommunications operator Zain Saudi dropped 3.4 percent after its Kuwaiti parent Zain said studies into the potential sale of its transmitter towers were in "very early stages" and no decision had been made yet on the matter. News of a potential sale had lifted both stocks on Wednesday; Zain fell 1.9 percent on Thursday."
'via Blog this'
No comments:
Post a Comment