Middle East Stocks Mixed, Profit-Taking In Blue-Chip Stocks Weigh on Saudi Arabia - Nasdaq.com:
MidEast shares were mixed, with Saudi stocks under pressure as investors took profits on blue chip stocks and weighed the government's commitment to keep balance and stability in the oil market. Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports. In company news, Gulf General Investments Co contined to rise after the company said on Monday it had received regulatory approval to reduce its share capital to 586.7 million dirhams from 1.79 billion dirhams, effective from July 15. Drake & Scull International continued to drop amid ongoing concerns about its financial position, business outlook and the outcome of a probe into "violations" by previous management.
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