Tuesday 26 April 2016

MIDEAST STOCKS-Saudi falls as reform euphoria fades, rest of region mixed | Reuters

MIDEAST STOCKS-Saudi falls as reform euphoria fades, rest of region mixed | Reuters:

"Shares in Saudi Arabia pulled back on Tuesday as local short-term investors booked profits in stocks that had jumped when Deputy Crown Prince Mohammed bin Salman announced economic reforms on Monday.

Riyadh's stock index, which had gained 2.5 percent on Monday mainly from banks that could win business handling the government's privatisation plans, dropped 1.6 percent. Trading volume shrank by almost one-third.

Samba Financial Group, lead underwriter of the recent initial public offer of Middle East Healthcare, dropped 5.3 percent after rocketing 9.3 percent on Monday."



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