Tuesday 22 August 2017

MIDEAST STOCKS-REITs, Al Rajhi Bank boost Saudi, rest of region quiet

MIDEAST STOCKS-REITs, Al Rajhi Bank boost Saudi, rest of region quiet:

"Saudi Arabia's stock market rose in early trade on Tuesday on the back of a further gain by Al Rajhi Bank and heavy trade in real estate investment trusts, while the rest of the region barely moved.

The Saudi stock index climbed 0.5 percent in the first 90 minutes, with Al Rajhi up 0.9 percent, bringing its gains over the last five days to 4 percent.

Maather REIT Fund jumped its 10 percent daily limit from its initial public offer price to 11.0 riyals upon listing in Riyadh to become Saudi Arabia's fifth listed REIT."



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