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Sunday, 30 October 2016

MIDEAST STOCKS-Banks boost Saudi for eighth straight day | Reuters

MIDEAST STOCKS-Banks boost Saudi for eighth straight day | Reuters:

"Strong banking shares boosted Saudi Arabia's stock market for an eighth straight day on Sunday but the rest of the region was sluggish in response to soft oil prices and global bourses, while Qatari equities fell sharply.

Saudi banks have been rallying since Riyadh's mammoth international bond sale this month partly eased worries about the government's access to finance and its ability to cope with an era of low oil prices.

The Saudi stock index climbed 0.7 percent in active trade on Sunday, bringing its gains since the rally began to 9.5 percent - although it is still 10.8 percent below its July peak."



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