Reuters logo
MIDEAST STOCKS-Saudi Arabia outperforms in otherwise quiet region
March 29, 2017 / 8:09 AM / 9 months ago

MIDEAST STOCKS-Saudi Arabia outperforms in otherwise quiet region

DUBAI, March 29 (Reuters) - A small rebound in crude oil prices towards $52 barrel helped lift Saudi Arabia’s stock index in early trade on Wednesday, in an otherwise quiet region.

The Saudi index added 0.4 percent in the first 40 minutes as almost four-fifths of listed petrochemical producers advanced; Saudi Kayan Petrochemical was up 1.3 percent

Builder Al Khodari climbed 2.0 percent after saying it had renewed its credit line of 373 million riyals ($99.5 million) with Alawwal Bank to help it finance working capital. Alwwal was up 0.5 percent.

Dubai’s index was flat in very thin trade; the only listed Gulf exchange, Dubai Financial Market, fell 0.8 percent but courier Aramex rose 1.0 percent.

In Abu Dhabi, Aldar Properties dropped 5.8 percent as the largest listed real estate developer went ex-dividend, dragging the market index 0.3 percent lower. (Reporting by Celine Aswad; Editing by Andrew Torchia/Keith Weir)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below