MIDEAST STOCKS-Saudi rises, other markets mixed amid muted trading | Reuters:
The Saudi market rose on Monday morning, heading for its second consecutive increase, backed by solid gains on selected stocks even though trading volumes were low in Gulf market after last week’s closure for the Muslim festival of Eid Al Adha.
The Saudi index rose 0.8 percent, after jumping 1.4 percent on Sunday, with gainers outnumbering losers by 84 to 33; however, trading volume remained close to its lowest levels this year.
Jabal Omar jumped 4.4 percent after it announced earlier on Monday selling 90 residential units in its second phase of its flagship project in Mecca to Al Bilad Hospitality Fund for 1.15 billion riyals ($306.7 million) and said the deal would reflect positively on second quarter financial statements.
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