MIDEAST STOCKS-Zain Saudi jumps on securing loan refinancing; Gulf bourses traded near flat | Reuters:
"Bourses in the Gulf traded near flat in early trade on Sunday with shares Saudi Arabia's third largest telecom operator surging after securing a refinancing loan.
Zain Saudi Arabia jumped 6.7 percent after the telecom operator said in a bourse statement on Sunday it has signed a 2.25 billion riyal ($600 million) loan refinancing with a group of four local banks.
The company is currently trading below its mean target price of 9.64 riyals, according to the average of 9 analysts polled by Reuters."
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