MIDEAST STOCKS-Gulf flat to lower although Nama Chemicals surges in Saudi | Reuters:
Gulf stock markets were flat to lower in early trade on Tuesday although Saudi Arabia’s Nama Chemicals surged because of an effort to appoint a new board.
The Saudi index was flat after an hour with Saudi Arabian Mining (Ma’aden) gaining 2.2 percent. Nama added 3.4 percent after shareholders owning more than 5 percent of the firm requested a meeting to consider the dissolution of the current board and the election of a new one.
Al Sagr Cooperative Insurance added 3.2 percent after announcing a 19.9 million riyal ($5.3 million) contract with Mahara Human Resources to provide insurance services.
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