Thursday, 23 June 2016

MIDEAST STOCKS-Gulf nudges up in thin trade; Egypt bounces | Reuters

MIDEAST STOCKS-Gulf nudges up in thin trade; Egypt bounces | Reuters:

"Most stock markets in the Gulf made small gains on Thursday, but trading volumes were thin because of uncertainty over the result of Britain's vote on whether to stay in the European Union.

In Saudi Arabia, the main stock index closed up 0.3 percent with much activity focusing on insurance stocks. The sector's sub-index added 0.6 percent while the telecommunications sector rose 0.4 percent.

Arabian Pipes jumped 10 percent, its daily limit, for a third straight day. On Monday the company announced it had been awarded a contract worth 383 million riyals ($102.1 million) from Saudi Aramco, the state oil company, to supply it with welded steel pipes."



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