MIDEAST STOCKS-Region flat to lower; cement shares jump again in Saudi:
"Middle Eastern stock markets were flat to lower on Thursday after global markets lost steam and oil prices fell, though the cement sector surged again in Saudi Arabia on hopes for government spending on building projects. Saudi Arabia’s index slipped 0.2 percent with losers outnumbering gainers by 99 to 74. Food company Savola climbed in early trade after proposing to raise its cash dividend to 1 riyal per share for 2017 from 0.75 riyal for 2016, but it closed 0.6 percent lower. Mediterranean & Gulf Cooperative Insurance and Reinsurance jumped its 10 percent daily limit after its board proposed doubling its capital to 800 million riyals ($213 million) through an equity rights issue."
'via Blog this'
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