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Sunday, 19 February 2017

MIDEAST STOCKS-Banks support Saudi, Qatar while profit-taking weighs on UAE | Reuters

MIDEAST STOCKS-Banks support Saudi, Qatar while profit-taking weighs on UAE | Reuters:

"Stock markets in the Gulf were mixed in early, quiet trade on Sunday with Saudi Arabia and Qatar outperforming because of support from the banking sector as United Arab Emirates bourses succumbed to profit-taking. Nine of the 12 listed banks on Saudi Arabia's bourse gained in the first 45 minutes of trade, lifting the index 0.4 percent. The largest Islamic lender, Al Rajhi Bank, added 1.5 percent after its chief executive told Reuters that the bank gained market share in corporate banking last year for the first time in four years, and would continue to expand in that area by focusing on healthcare services, affordable housing, transportation and energy."



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