MIDEAST STOCKS-Banks bolster Saudi, Orascom Telecom lifts Egypt | Reuters:
"Banking blue chips led gains on Saudi Arabia's bourse in early trade on Monday while Egypt's market edged up, supported by high trading volumes in Orascom Telecom.
Riyadh's index was initially up by as much as 1.0 percent as the banking and petrochemical sectors gained, though after 90 minutes of trade it was only 0.3 percent higher as day traders cashed out of small and mid-tier stocks.
Samba Financial arose 3.6 percent and Arab National Bank added 1.4 percent. On Sunday, the central bank announced a housing mortgage scheme under which the government would guarantee 15 percent of payments; if it proves successful, the programme could boost business for banks."
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