Saudi Electricity down on big Q4 loss, Emaar and Aldar buoy UAE | ZAWYA MENA Edition:
"Most Gulf stock markets edged up early on Wednesday with Saudi Arabia aided by firm oil prices despite a much bigger-than-expected loss at Saudi Electricity, and the United Arab Emirates buoyed by news of a tie-up between its two top property firms.
The Saudi index rose 0.5 percent to 7,763 points in the first hour, supported mainly by banks ahead of FTSE's decision at the end of this month on whether to upgrade Riyadh to secondary emerging market status.
Al Rajhi Bank, expected to be one of the major targets of foreign fund inflows due to an upgrade, rose 1.0 percent; the stock will go ex-dividend on Monday. National Commercial Bank added 0.5 percent."
'via Blog this'
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