saudi stocks rise on the eve of 2017 budget
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 stocks rise on the eve of 2017 budget

Arab Today, arab today

Arab Today, arab today Saudi stocks rise on the eve of 2017 budget

Tadawul All-Share Index
Jeddah - Arab Today

Saudi Arabia’s stock market rose on Wednesday on the eve of the government’s release of its 2017 budget.
The Tadawul All-Share Index (TASI) climbed 0.4 percent, though trading volume shrank to its lowest level in two months as many investors became cautious before the budget announcement.
Volumes weakened further to SR3.3 billion, the lowest in two months. The advances-declines ratio was 113/48. Most sectors pivoted into positive territory toward the end of the session even as trading activity mainly centered round a few specific stocks. The retail sector, however, declined.
Arabian Pipes jumped 3.7 percent after saying it won a SR72 million ($19.2 million) order to supply oil giant Saudi Aramco, and Saudi Steel Pipes added 5.5 percent after reporting a similar order.
Arab National Bank fell 0.9 percent after proposing a cash dividend of SR0.45 per share for the second half of 2016, lower than last year. Alinma Bank edged up 0.3 percent after keeping its 2016 dividend unchanged.
On Wednesday, Egypt’s stock market extended a bull run fueled by foreign money and last month’s float of the Egyptian pound.
In Dubai, the index also rose 0.4 percent in thin trade as real estate blue chip Emaar Properties added 0.6 percent.
A 2.6 percent drop in Abu Dhabi Commercial Bank pulled Abu Dhabi’s index down 0.3 percent while Qatar’s index was little changed.
Cairo’s index, which surged 3.4 percent on Tuesday to a record high, climbed a further 1.8 percent in heavy volume. Foreign investors remained net buyers of stocks by a small margin, bourse data showed.
Orascom Telecom, beaten down in recent weeks by news of the departure of Naguib Sawiris as managing director, gained 7.1 percent after saying it sold its unit Middle East and North Africa Co. Submarine Cable Systems for $90 million to an Indian company.
Proceeds are to be used to invest in the financial, real estate and logistics sectors, which the government is targeting for expansion under an economic reform program . Orascom was the market’s most heavily traded stock on Wednesday.
Palm Hills Development climbed 2.2 percent after saying it had agreed with Sarwa Capital, Arab African International Bank and Banque Misr to launch a securitized bond based on its receivables.

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 stocks rise on the eve of 2017 budget saudi stocks rise on the eve of 2017 budget

 



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 stocks rise on the eve of 2017 budget saudi stocks rise on the eve of 2017 budget

 



GMT 05:57 2017 Tuesday ,29 August

Indonesia explores new, alternative tourism markets

GMT 12:19 2016 Thursday ,08 December

Kirk Douglas at 100, still in love

GMT 17:27 2017 Thursday ,05 October

Major Bowie exhibition to close in New York

GMT 00:13 2016 Friday ,10 June

After 11-month peak, oil prices take a breather

GMT 05:31 2017 Sunday ,05 November

Mexico makes 'major' 1.5-bn barrel oil find

GMT 04:11 2017 Thursday ,20 April

And the world’s ‘most beautiful woman’ is

GMT 11:40 2017 Thursday ,27 April

UN eyes new Yemen talks by end of May

GMT 05:19 2016 Saturday ,31 December

UAE tightens security for New Year celebrations

GMT 18:27 2017 Wednesday ,15 February

India should give Kashmiris right to self-determination

GMT 04:26 2017 Saturday ,26 August

Hany refuses $30000 offer to sing in Damascus

GMT 12:52 2017 Monday ,06 March

Air pollution linked to 600,000 deaths

GMT 01:14 2017 Friday ,17 November

Yemeni official says diabetics increased in Yemen

GMT 00:04 2017 Wednesday ,20 December

Kuwaiti cabinet sworn in before National Assembly

GMT 14:40 2015 Thursday ,08 October

Carlyle, Pictet launch fine art finance service

GMT 10:55 2015 Sunday ,06 December

Azerbaijan mourns 'many deaths' after oil rig fire
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