MIDEAST STOCKS-Oil prices continue to support Saudi, most of Gulf inches up | Reuters:
Most Gulf markets rose slightly in quiet morning trade on Monday with oil prices hovering near their highest levels in nearly four years ahead of U.S. sanctions against Iran that will go into effect next month.
The Saudi Arabian index was up 0.2 percent after an hour of trade, boosted by petrochemical and bank stocks. Saudi Basic Industries rose 0.2 percent while Alinma Bank was up 1.5 percent.
Alinma Investment Co, a unit of Alinma Bank, signed an agreement with Saudi Real Estate Co to establish a real estate fund that will develop three sites in Riyadh with a value of 1.5 billion riyals ($409 million). Saudi Real Estate jumped 3.3 percent.
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