MIDEAST STOCKS-Most of Gulf weak on Saudi probe, but Dubai edges up:
"Most Gulf stock markets were weak in early trade on Thursday because of concern about the impact of Saudi Arabia’s anti-corruption investigation, but Dubai’s bourse edged up as real estate shares rebounded.
The Saudi stock index fell 0.7 percent in the first 35 minutes as decliners outnumbered advancers by 104 to 57. Alarmed by the probe, wealthy Saudi individual investors have been dumping stocks this week -- some, fund managers say, possibly intending to move money out of the country.
But stocks in companies related to people detained in the probe regained some strength after steep losses earlier this week. Al Tayyar Travel, whose founder Nasser bin Aqeel al-Tayyar has been arrested, rose 0.4 percent after plunging 22 percent in the previous three days."
'via Blog this'
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