MIDEAST STOCKS-Saudi rises after prince reassures on crackdown, Gulf mostly sluggish:
"Saudi Arabia’s stock market rose on Sunday after Crown Prince Mohammed bin Salman reassured investors about the impact of a crackdown on corruption, while other Gulf bourses were sluggish. The Saudi index added 0.8 percent. Prince Mohammed said in a New York Times interview that about 95 percent of about 200 businessmen and officials implicated in the probe were agreeing to financial settlements of the charges against them - a possible indication the probe, which has unsettled the stock market, could start to wind down. Al Tayyar Travel, whose founder has been detained in the crackdown, rebounded 6.4 percent. After plunging in the initial days after the probe was announced, it has been recovering in the last few days."
'via Blog this'
No comments:
Post a Comment