MIDEAST STOCKS-Region mostly weak but blue chips buoy Egypt as foreigners buy:
"Most Middle Eastern stock markets fell on Monday in line with a weak global trend, with Saudi Arabia seeing profit-taking in cement shares, but Egypt rose on the back of several blue chips,
The region had already dropped on Sunday in response to Wall Street’s Friday plunge, so Gulf markets far outperformed other bourses in Asia, where MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.4 percent on Monday afternoon.
The Saudi index slipped 0.3 percent as Tabuk Cement pulled back 1.9 percent. Tabuk and many other firms in the sector had jumped in the past several days on a media report that the government had started awarding contracts to build the huge NEOM business zone in the northwest of the country."
'via Blog this'
No comments:
Post a Comment