MIDEAST STOCKS-Money flows back into Saudi, Emaar keeps falling in Dubai:
"Buyers returned to the Saudi Arabian stock market on Wednesday as blue chips attracted interest again after several days of profit-taking that followed FTSE Russell’s decision to upgrade Riyadh to emerging market status.
The Saudi index was up 0.9 percent as the energy and banking sectors rose: PetroRabigh climbed 2.0 percent, Saudi Arabian Refineries jumped 3.0 percent and mining group Ma’aden gained 1.7 percent. Al Rajhi Bank added 1.0 percent.
Loss-making Saudi Arabian home furnishings maker Al Sorayai Trading surged 7.3 percent, rising in unusually heavy trade for a fourth straight day. The company said chief executive Waiel bin Saad al-Rashid had resigned for personal reasons, and a replacement would be announced later."
'via Blog this'
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