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Thursday, 27 April 2017

MIDEAST STOCKS-Saudi bank Alawwal extends gains on merger talks, region subdued | Reuters

MIDEAST STOCKS-Saudi bank Alawwal extends gains on merger talks, region subdued | Reuters:

"Shares in two Saudi banks that are in early merger talks moved in opposite directions on Thursday while other regional markets moved little in thin volumes.

Alawwal Bank extended the previous session's 8.6 percent gains, adding 0.9 percent after 20 minutes of trade. Shares in Saudi British Bank (SABB), however, slipped 0.2 percent after jumping 6.8 percent on Wednesday.

Other commercial lenders were mixed, with the top two by total assets, making small gains; National Commercial bank was up 0.3 percent and Al Rajhi Bank up 0.4 percent."



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