UPDATE 2-MIDEAST STOCKS-Saudi Arabia edges up, Egypt extends rally | Energy & Oil | Reuters:
"Banking stocks lifted Saudi Arabia's bourse in early trade on Tuesday, while Egypt continued a broad rally after positive purchasing managers' data and comments by the International Monetary Fund.
The main Saudi index edged up 0.3 percent, largely on the back of lenders Samba Financial Group and Banque Saudi Fransi, up 1.3 and 1.6 percent respectively.
The kingdom's finance minister said on Tuesday that Saudi Arabia's financial position was very strong despite the plunge in oil prices since last year. Ibrahim Alassaf also said the kingdom was focusing spending on economic development projects to stimulate the private sector."
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