MIDEAST STOCKS-Saudi, Egypt edge down in early trade after oil weakens | Reuters

MIDEAST STOCKS-Saudi, Egypt edge down in early trade after oil weakens | Reuters:

"Stock markets in Saudi Arabia and Egypt slipped in early trade on Sunday, erasing some of their gains in the previous session after oil prices reversed and global markets sold off at the end of last week.

In Riyadh, the index slid 0.5 percent in thin trade, dragged down by the petrochemical sector. Saudi Arabia Fertilizer (SAFCO) and Yanbu National Petrochemical were each down more than 1.5 percent.

But some shares were faring better because of positive corporate actions. Saudi Cement rose 2.0 percent after the company recommended a dividend distribution of 3.00 riyals per share for the second half of 2015, versus a proposed dividend of 2.5 riyals a year earlier."



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