Sunday, 21 January 2018

MIDEAST STOCKS-Most of region falls, Saudi retreats further from technical barrier

MIDEAST STOCKS-Most of region falls, Saudi retreats further from technical barrier:

"Most Middle Eastern stock markets fell 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 7,513 points, retreating from the July peak of 7,586 points. Dairy company Almarai dropped 1.2 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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