MIDEAST STOCKS-Saudi Kayan pulls down kingdom's bourse | Reuters:
"Shares in Saudi Arabian petrochemical manufacturer Saudi Kayan tumbled on Thursday after it swung to a third-quarter loss, pulling down the kingdom's index.
Most Middle East bourses - apart from in Saudi Arabia and Qatar - were closed for Islamic New Year. Trade was muted ahead of the weekend there, with renewed weakness in oil prices adding to the cautious mood among investors.
Shares in Saudi Kayan, an affiliate of Saudi Basic Industries Corp (SABIC), fell 9.8 percent after announcing a quarterly loss of 13.8 million riyals ($3.7 million) in the three months to Sept 30. That compares with a profit of 66.9 million riyals in the same period a year earlier."
'via Blog this'
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