MIDEAST STOCKS-Saudi's Kingdom soars on Alwaleed release, earnings hit SABIC:
"Shares in Saudi Arabia’s Kingdom Holding soared in early trade on Sunday after owner Prince Alwaleed bin Talal was released from detention, but top petrochemical producer Saudi Basic Industries fell on weak fourth-quarter earnings.
The Saudi stock index was flat after an hour but rising stocks outnumbered losers in a ratio of about two to one.
The release of Prince Alwaleed and at least several other senior Saudi businessmen at the weekend, after they were detained for over two months in a corruption probe, was seen as positive for their companies - and also for the market as a whole, by suggesting the probe, which sent shockwaves through political and business circles, was winding down."
'via Blog this'
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