After swiftly assuming power, King Salman pledged continuity英文资料.pdfVIP

Saudi Arabia rises after smooth royal succession Written by Imaduddin Monday, 26 January 2015 22:06 DUBAI: Saudi Arabias stock market rose on Monday as it traded for the first time since King Salman succeeded his brother Abdullah, who died on Friday. Other bourses in the region were neutral or negative. After swiftly assuming power, King Salman pledged continuity in energy and foreign policies and appointed younger men as his heirs, appearing to settle the succession issue for years to come. Investors reacted positively to the smooth succession and the kingdoms main index added 0.7 percent as most stocks closed higher. Food makers Savola Group and Almarai were among the main supports, adding 4.0 and 2.5 percent respectively. Shares in major real estate developer Dar Al Arkan surged their daily 10 percent limit in their heaviest trade since July 2012, extending a leg up which started after the company published its fourth-quarter results last week. Its profit fell 26.3 percent and missed analysts forecasts, but some investors may be looking ahead to stronger results this year. Some analysts think the Saudi succession could benefit the stock market because King Salman will face pressure to ensure public support with state sector wage increases and other populist steps that could accelerate the consumer spending boom. Investment bank Exotix said there could be measures to renew the social contract in the form of more state spending on welfare, infrastructure, defence and overseas aid. Stocks benefiting from this would include consumer-oriented firms Jarir Marketing, United 1 / 4 Saudi Arabia rises after smooth royal succession Written by Imaduddin Monday, 26 January 2015 22:06 Electronics Co and Fawaz Alhokair Co, as well as banks such as Al Rajhi if they are permitted by regulators to loosen consumer credit, Exotix said. Howe