saudi stock rises despite petchem blow
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Saudi stock rises despite petchem blow

Arab Today, arab today

Arab Today, arab today Saudi stock rises despite petchem blow

A Saudi investor monitors the stock exchange
Dubai - Arab Today

The Tadawul All-Shares Index (TASI) ended 0.1 percent higher on Monday but 0.7 percent off its intra-day peak, with petrochemicals lagging slightly. Travel agency Al-Tayyar, which had climbed 7.4 percent on Sunday in unusually heavy trade, fell back 1.3 percent.
Other Gulf stock markets were mixed on Monday as most reopened after the New Year, with Oman falling after the release of an austere state budget for 2017. Egypt edged down although foreign investors remained net buyers of stocks.
Dubai’s index rose 0.2 percent as much activity focused on speculative stocks with prices below 1 dirham. Islamic Arab Insurance, the most heavily traded stock, rocketed 15 percent in its largest volume since April.
Abu Dhabi fell 0.3 percent, partly due to a 7.6 percent slide in Abu Dhabi National Energy.
Qatar edged down 0.1 percent. Islamic bank Masraf Al Rayan dropped that much after saying it would suspend its brokerage business, Al Rayan Financial Brokerage Co. It said the brokerage’s paid-up capital represented just 0.06 percent of the bank’s total assets.
Oman dropped 0.8 percent after the government released a 2017 budget plan on Sunday that projected a smaller deficit but included fresh austerity steps and tight curbs on spending because of low oil prices.
Oman Telecommunications lost 2.1 percent after tumbling 4.3 percent on Sunday in response to an increase in the royalty that it must pay the government. Rival Ooredoo Oman fell 2.0 percent after plunging 7.9 percent on Sunday.
Bahrain listed its first sharia-compliant retail real estate investment trust, Eskan Bank Realty Income Trust. The REIT rose 7 percent in very thin trade.
In Egypt, the index pulled back 0.4 percent but exchange data showed non-Arab foreign investors remained net buyers of stocks by a small margin, continuing a streak that began with the floating of the Egyptian pound on Nov. 3.
Investment firm Qalaa Holdings was the most heavily traded stock, shooting up 9.7 percent to 1.13 pounds in its largest daily volume since it listed in late 2009.
The stock has been in a downtrend for several years from a peak of £5.45 in 2014, but it may now be reversing that trend. Its surge in the past two days triggered a reverse head and shoulders pattern formed by the highs and lows since June and pointing up to around £1.40.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi stock rises despite petchem blow saudi stock rises despite petchem blow

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi stock rises despite petchem blow saudi stock rises despite petchem blow

 



GMT 23:24 2017 Tuesday ,24 January

Mofida Shiha prefers social TV programs to politics

GMT 21:23 2017 Sunday ,13 August

Fierce clashes between Daesh, SDF in Raqqah

GMT 19:31 2017 Monday ,16 October

Azhar Imam, Mufti to inaugurate international Fatwa

GMT 18:33 2017 Tuesday ,28 March

S. Korea Preparing for N. Korean ICBM Launch

GMT 23:39 2017 Tuesday ,19 September

Iran recruits Afghans, Pakistanis to fight in Syria

GMT 03:51 2017 Saturday ,11 November

'Lazarus' Daly says recovery no miracle

GMT 13:30 2017 Friday ,17 February

Four killed in Kashmir Gun battle

GMT 18:51 2017 Friday ,17 November

FIA WEC Bapco 6 Hours of Bahrain weekend starts
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday