Monday 21 September 2015

MIDEAST STOCKS-Saudi banks rebound after sell-off; Egypt also up | Reuters

MIDEAST STOCKS-Saudi banks rebound after sell-off; Egypt also up | Reuters:

"Rebounding banking stocks lifted Saudi Arabia's market in early trade on Monday. Egypt's bourse was also positive in thin trade before an extended break.

The main Saudi stock index edged up 0.4 percent. Lenders Samba Financial Group, up 1.3 percent, and Al Rajhi Bank which rose 0.9 percent, were the main supports.

Saudi banks had come under pressure in the previous few sessions due to concerns about their exposure to large construction firm Saudi Binladin Group, which was suspended from taking new contracts after a crane accident in Mecca that killed 107 people."



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