Wednesday, 31 January 2018

MIDEAST STOCKS-Cement shares lift Saudi, other big markets fall

MIDEAST STOCKS-Cement shares lift Saudi, other big markets fall:

"Cement shares lifted Saudi Arabia’s stock index on Wednesday while other big bourses in the region were weak, with real estate shares pulling down Dubai.

The Saudi index rose 0.3 percent as 13 of the 14 cement stocks climbed in unusually heavy trade. Jouf Cement was up 5.4 percent and Tabuk Cement jumped its 10 percent daily limit.

The sector reported weak 2017 earnings because of a slumping construction industry, but some investors expect a stronger 2018 as the government boosts spending under its budget plans."



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