MIDEAST STOCKS-Saudi, Dubai rise but close far off highs | Reuters:
"Stock markets in Saudi Arabia and
Dubai rebounded on Thursday but closed far off their highs after
late bouts of selling, in a sign that investors remain jittery
about low oil prices and the prospect of fiscal tightening in
the region next year.
The Saudi index, which dropped earlier this week on
concern about expected government spending and subsidy cuts,
climbed as much as 1.4 percent during the day, bouncing from
near technical support at its August low of 6,921 points.
But it closed just 0.1 percent higher at 7,125 points. Blue
chip Al-Rajhi Bank climbed 0.5 percent. City Cement Co
surged 7.2 percent after its board proposed a 1 riyal
per share dividend for the period to September."
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