MIDEAST STOCKS-Banking shares support Saudi in early trade:
"Banking shares helped take the Saudi index slightly higher in early trade on Thursday after news that the government has priced a $12.5 billion international bond issue, while the rest of the region was mixed.
The sovereign bond sale attracted around $40 billion and settlement is expected by Oct. 4, Saudi Arabia’s Ministry of Finance said.
The successful issue is good news for the banking sector because it will help to increase liquidity and gives the government financial room to move ahead with projects. Shares of majority state-owned National Commercial Bank were up 0.9 percent and Samba Financial Group rose 0.5 percent."
'via Blog this'
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