MIDEAST STOCKS-Saudis up on petrochemicals, EFG Hermes soars in bullish Egypt | Reuters:
"Saudi Arabia's stock market rose in early trade on Thursday after oil prices jumped overnight, while Egypt headed for a fourth straight day of gains following its currency devaluation.
The Saudi stock index added 1.0 percent, led by the oil-sensitive petrochemical sector, which rose 1.7 percent after outperforming on Wednesday.
Egypt, which had climbed 10 percent in the previous three days, added a further 1.2 percent. This week's devaluation has raised hopes for foreign capital flows into the market, though most of the stock purchases in the last few days have been by local investors."
'via Blog this'
No comments:
Post a Comment