MIDEAST STOCKS-UAE up on momentum trades; Saudi stalls at chart barrier | Reuters:
"Stock markets in the Middle East ended mixed on Monday as local traders chased after small and mid-cap stocks in the United Arab Emirates, while Saudi Arabia, Egypt and Qatar gave up early gains as investors booked profits.
Riyadh's index initially rose as much as 1.0 percent as the banking sector gained, but then pulled back as traders cashed out of speculative stocks and the petrochemical sector. The index ended almost flat at 6,093 points, failing to break technical resistance on the early February and end-January peaks of 6,056-6,099 points.
Saudi Basic Industries, the petrochemical giant, retreated 1.0 percent."
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