MIDEAST STOCKS-Gulf markets sluggish, EFG Hermes leads Egypt rebound | News by Country | Reuters:
"Gulf stock markets diverged on Monday on mixed corporate news, while Egypt rebounded on bullish comments by government officials and executives and signs that the planned parliamentary election will go ahead soon despite legal issues.
Saudi Arabia's main index climbed 0.4 percent as property stocks dominated trading and Makkah Construction and Development was the main support, jumping 4.8 percent. The company, which which uses a different fiscal calendar from most listed firms, is expected to post quarterly earnings this month.
Retailer United Electronics surged 7.6 percent. The company has proposed no cash dividend for the fourth quarter but plans to issue bonus shares."
'via Blog this'
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