UPDATE 2-MIDEAST STOCKS-Saudi Arabia extends gains, Egypt pulls back | Reuters:
"Saudi Arabia's stock market rose in early trade on Wednesday on the back of banks and petrochemicals, while Egypt's bourse retreated from a multi-year high.
The main Saudi index added 1.5 percent as shares in Samba Financial Group surged 7.5 percent and were the main support. Two brokerages, EFG Hermes and Global, identified the stock this week as offering good value and being well positioned for the expected U.S. interest rate increase.
Petrochemicals giant Saudi Basic Industries jumped 2.7 percent as Brent crude oil, although weaker, held near $49 per barrel following comments by a senior OPEC official this week that the commodity's price may have bottomed out."
'via Blog this'
No comments:
Post a Comment