MIDEAST STOCKS-Banks hold back Saudi as nearby markets tick higher | Reuters:
"Banks were the main drag on Saudi Arabia's stock market on Monday as investors grew wary before second-quarter financial results, while most other Middle East bourses recovered some of the losses from the sell-off after Britain's Brexit vote.
Riyadh's benchmark fell by 0.2 percent as banking shares were sold in the final hour of trade. Al Rajhi, the sector's largest Islamic bank, lost 2.2 percent to 56.50 riyals and the sector's sub-index dropped 0.8 percent.
A note from Riyad Capital said that tight liquidity and pressure on deposits are among the biggest challenges facing the banking sector this year."
'via Blog this'
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