MIDEAST STOCKS-Saudi market slips on profit-taking, Egypt up on aid hopes | Reuters:
"* Saudi investors cash in moderately on strong rally
* Insurance shares outperform slightly after CMA rules
* Hopes for fresh Saudi aid, new constitution boost Egypt
* Technical glitch shuts down Qatar, trades cancelled
* Dubai retreats from near chart resistance
By Olzhas Auyezov
DUBAI, Nov 19 (Reuters) - Saudi Arabia's index shed 0.6 percent on Tuesday as some investors booked profits after a three-week rally, while Egypt's bourse continued to strengthen on hopes for fresh Saudi aid and progress towards political reform.
The Saudi index had been gaining steadily since the end of October, helped by renewed confidence in the petrochemical sector and a region-wide hunt for dividend yields ahead of the year-end.
"Today we are seeing small profit-taking activity," said Rami Sidani, head of investment at Schroders Middle East. "That was to be expected after the rally.""
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