MIDEAST STOCKS-Saudi flat as some blue chips bought; Egypt pulls back | Reuters:
"Saudi Arabia's stock market was flat in early trade on Monday as investors shrugged off rising tensions with Iran, while Egypt's bourse pulled back amid global weakness in equities.
The Saudi stock index initially fell as much as 0.7 percent after Saudi Arabia cut diplomatic ties with Iran in response to the storming of its embassy in Tehran - part of an escalating row between the rival powers over Riyadh's execution of a Shi'ite Muslim cleric.
Growing geopolitical risks also pushed the Saudi riyal down in the forward foreign exchange market on Monday, and could deter foreign investors from buying Saudi stocks."
'via Blog this'
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