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Sunday, 19 February 2017

MIDEAST STOCKS-Banks support Saudi, Qatar; Egypt falls as currency strengthens | Reuters

MIDEAST STOCKS-Banks support Saudi, Qatar; Egypt falls as currency strengthens | Reuters:

"Stock markets in the Middle East were mixed in modest trading volumes on Sunday with Saudi Arabia and Qatar outperforming because of support from the banking sector, while Egypt fell as the currency hit a three-month high.

Two-thirds of the 12 listed banks on Saudi Arabia's bourse gained, lifting the index 0.1 percent. Alawwal Bank added 2.7 percent, with most activity occurring in the last hour of the session.

Reuters reported on Sunday, citing banking sources, that builder Saudi Binladin Group had received hundreds of millions of dollars from the government to settle debts since the start of this year - good news for the company and its bank creditors."



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