MIDEAST STOCKS-Saudi index rise for third straight day, banks lift Qatar | Reuters:
Saudi Arabia’s stock market rose on Tuesday for a third consecutive day, fuelled by gains in energy and telecommunications shares, while Qatari stocks were lifted by financials.
Saudi Arabia’s main index added 0.5 percent, with Saudi Telecom rising 1.8 percent and oil refiner Petro Rabigh up 1.4 percent.
Saudi market, which has added about 11 percent in the year-to-date, has been buoyed by inflows of foreign funds in anticipation of Riyadh joining emerging market indexes next year. Recent exchange data indicates those inflows have slowed but not halted as stock valuations have risen.
No comments:
Post a Comment