MIDEAST STOCKS-Qatar, Saudi rebound as Turkey concerns ease | Reuters:
Qatar and Saudi stocks rose modestly on Tuesday, recouping part of recent losses - notably among banks - as concerns about contagion from sharp declines in the Turkish lira eased.
As the lira stabilised, Qatar stocks ended 0.9 percent higher, helped by a 1.5 percent rebound in Qatar National Bank from sharp falls in the past two days. It has a Turkish subsidiary, QNB Finansbank.
Saudi Arabia’s stock index climbed 0.3 percent, with its biggest bank, National Commercial Bank, rising 0.7 percent. Arqaam Capital estimated NCB’s exposure to Turkey at 8 percent of its assets and 12 percent of its loans.
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