MIDEAST STOCKS-Most bourses lose steam as retail investors book profits:
"Most stock markets in the Middle East declined on Thursday as local retail investors booked profits and institutional investors stayed on the sidelines, while Dubai port operator DP World underperformed because of uninspiring interim earnings. "The region has been a retail-, momentum-driven market and I expect next week that trend will spill over," said a Dubai-based portfolio manager. With Eid al-Adha holidays due to start in the region from the middle of next week, many retail investors are starting to book profits. The Riyadh index fell 0.3 percent, snapping six straight sessions of gains, as a little over half of banks fell including one of this week's top-performing stocks, Al Rajhi Bank, which retreated 0.9 percent. "
'via Blog this'
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