Tuesday 22 January 2019

MIDEAST STOCKS-Oil hurts most of Gulf, blue-chips push down Egypt | Reuters

MIDEAST STOCKS-Oil hurts most of Gulf, blue-chips push down Egypt | Reuters:

Saudi Arabia's stock market traded flat on Tuesday after a sharp fall in oil prices, while Egypt's index was pulled down by its blue-chip shares, mirroring a wider decline in emerging markets.

Saudi's main index was unchanged after inching up earlier in the session, with petrochemical investor Alujain jumping its 10 percent limit to enjoy its best one-day gain in two years.

The firm provided an update on the fire at its affiliate's plant. The fire, which broke out on Oct. 2 at its unit's NATPET plant, halted production. Alujain now expects the plant to start operating all units by the end of September.

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