MIDEAST STOCKS-Saudi at 67-mth high as property cos gain; most of region firm | Reuters

MIDEAST STOCKS-Saudi at 67-mth high as property cos gain; most of region firm | Reuters:



"* Some money shifting from Saudi blue chips to property cos 




* Dubai recovers from profit-taking before close



* Arabtec bounces after Reuters report on Kuwait M&A



* Kuwait slumps before three-day holiday



* Egypt not worried by government's resignation



By Raya Atallah and Nadia Saleem

DUBAI, Feb 24 (Reuters) - Saudi Arabia's bourse rose to a 67-month high on Monday as investors shifted funds towards real estate shares, while most other regional markets closed on a positive note.



The Saudi real estate sector's index gained 3.7 percent; developer Jabal Omar jumped 5.5 percent. Investors tend to shift from blue chips after earnings season towards other sectors that may have more upside. 




Petrochemical shares edged up with Saudi Basic Industries Corp (SABIC) climbing 0.2 percent."



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