Tuesday 26 May 2015

UPDATE 2-MIDEAST STOCKS-Almarai, Ma'aden lift Saudi; Egypt slips | Reuters

UPDATE 2-MIDEAST STOCKS-Almarai, Ma'aden lift Saudi; Egypt slips | Reuters:



"Saudi Arabia's stock market rose in early trade on Tuesday, supported by industrial blue chips, while Egypt's bourse slipped as index compiler MSCI prepared to reduce the country's weighting in its emerging markets index.



The main Saudi index edged up 0.5 percent as dairy firm Almarai rose 1.9 percent after its board approved a capital investment plan for 2016-2020 which will reach 21 billion riyals ($5.6 billion).



The firm said it wanted to double consolidated sales in the period and expand its activities in farming, manufacturing, distribution and logistics."



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