MIDEAST STOCKS-Banks still weak in Saudi, ex-dividends drag down Qatar:
"Major Gulf stock markets were mostly lower in early trade on Wednesday with Saudi banks dropping for a fourth straight day, partly because of concern about the government’s move to retroactively increase their Islamic tax liabilities.
The Saudi index fell 0.7 percent in the first hour with all 12 banking stocks declining. Al Rajhi Bank slipped 1.3 percent.
But National Industrialisation (Tasnee), which had jumped 9.9 percent on Tuesday after reporting an annual net profit up soared about seven-fold, added a further 4.5 percent and was the market’s most traded stock."
'via Blog this'
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