MIDEAST STOCKS-Saudi extends gain after earnings, banks weigh on Abu Dhabi | Reuters:
Saudi Arabia’s stock index closed higher on Monday, aided by strong corporate earnings, while Abu Dhabi recovered some of its losses after opening at its lowest in two months.
Stock exchange data on Sunday showed that foreigners sold a net 2.34 billion riyals ($623.85 million) in the Saudi stock market for the week ending Oct. 25, but the bourse was supported by local institutions, which bought 8.06 billion riyals worth of shares.
Foreign ownership is now down to 1.65 percent, after stripping out strategic shareholders, from 1.94 percent the week before and 2.17 percent in the week ending Oct. 11, Arqaam Capital said in a note on Monday.
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