Saudi bourse gains on upbeat earnings, non-oil activity; Egypt falls

  • 📰 Reuters
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Saudi Arabia's stock market extended gains for a third session on Sunday on buoyant earnings and upbeat non-oil business activity, while the Egyptian bourse fell further on profit taking.

to its highest level in eight years in February, a survey showed on Sunday, based on a strong increase in demand and an optimistic economic outlook.

According to Ahmed Negm, Head of Market Research MENA at XS.com, the favourable business conditions in non-oil sectors could help companies maintain their profit levels despite monetary policy tightening and eroding global conditions. "However, the developments in oil markets could still have an uncertain impact on Saudi stocks due to the current volatility."by more than $1 per barrel on Friday and ended the week higher, driven by renewed optimism around demand from top oil importer China.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Wow...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines