Mideast Stocks: Gulf bourses mostly edge down in early trade | ZAWYA MENA Edition

Mideast Stocks: Gulf bourses mostly edge down in early trade | ZAWYA MENA Edition:

"Gulf stock markets mostly edged down on Sunday with Saudi Arabia pulling further away from a major resistance level, although a surge by fuel distributor ADNOC Distribution buoyed Abu Dhabi. The Saudi index slipped 0.3 percent to 7,518 points in the first hour, pulling away from the July peak of 7,586 points. Dairy company Almarai dropped 1.9 percent after reporting fourth-quarter net profit of 513 million riyals ($137 million), down from 536 million riyals a year ago and below forecasts of 549 million riyals by SICO Bahrain and 531 million riyals by NCB Capital. "



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