MIDEAST STOCKS-Saudi stocks erase previous gains on profit-taking | Reuters:
"Saudi Arabia's stock market fell back on profit-taking by short-term retail investors on Wednesday, while other Gulf markets were mixed.
The Saudi index, which had gained 1.7 percent on Tuesday, rose in early trade on Wednesday but dropped in the late afternoon to close 1.6 percent lower. Alinma Bank retreated 3.7 percent.
Much activity focused on second- or third-tier speculative stocks. Tihama Advertising rose 2.0 percent after it said it sold land in Jeddah for 33 million riyals ($8.8 million), while Saudi Fisheries sank 5.9 percent."
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