MIDEAST STOCKS-Saudi bourse bounces from one-month low, Qatar banks up | Reuters:
Banks helped Saudi Arabia’s stock market off a one-month low on Monday while other Gulf markets also gained.
The Saudi index rose 0.8 percent, with the kingdom’s largest lender National Commercial Bank climbing by 2 percent. Saudi Steel Pipes, meanwhile, gained 3.5 percent after it appointed a new chief executive.
Some cement stocks, especially those in the south of the country near Yemen, rose again on hopes that a possible end to the Yemen war could boost demand for reconstruction. Houthi rebels in Yemen said on Monday that they were halting drone and missile attacks on Saudi Arabia and were ready for a broader ceasefire.
No comments:
Post a Comment