MIDEAST STOCKS-Gulf markets fall as investors take profits; Egypt sags | Reuters

MIDEAST STOCKS-Gulf markets fall as investors take profits; Egypt sags | Reuters:

"Stock markets in the Gulf fell on Sunday as investors took profits, taking their cue from a dip in Brent oil futures at the end of last week, while concerns over security risks put pressure on Egyptian shares.

Riyadh's stock index dropped 1.0 percent, weighed down by the two largest sectors, banks and petrochemicals. Samba Financial Group and Saudi Basic Industries, the largest listed stock by market value, fell 2.0 and 1.2 percent respectively.

But some retail industry shares, which had largely been weak since reporting quarterly results last month, outperformed the market with Fawaz Alhokair, which owns Saudi rights to clothing brands such as Mango and Banana Republic, surging 9.6 percent. The stock has rebounded 25.5 percent since late last week."



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