MIDEAST STOCKS-Saudi retreats after oil drops, Egypt more resilient | News by Country | Reuters:
"Saudi Arabian stocks retreated on Sunday after oil prices fell further and as investors sold ahead of the expected publication this week of the 2016 state budget, while Egypt's bourse headed for a fourth straight day of gains.
The Saudi index fell 1.9 percent in early trade to 6,911 points, as the bank sector declined 2.8 percent after enjoying a strong rally on Thursday.
National Commercial Bank and Al Rajhi Bank dropped 2.9 and 3.3 percent respectively, wiping off most of Thursday's gains, which were due to hopes that higher interest rates would improve lending margins."
'via Blog this'
No comments:
Post a Comment