MIDEAST STOCKS-Saudi Electricity surges before budget on price reform hopes | Reuters:
"Saudi Arabia's stock market was generally little changed early on Monday as traders cautiously awaited the release of the kingdom's 2016 state budget, while Egypt recouped some of previous session's losses.
The Saudi index rose in the opening minutes but then came well off its highs and after 80 minutes of trade, was up just 0.2 percent.
However, Saudi Electricity Co (STC) and National Gas and Industrialization Co surged 9.9 and 6.8 percent respectively. The budget may include rises in electricity and natural gas feedstock prices, which could boost the bottom lines of Saudi Electricity while squeezing petrochemical firms."
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