MIDEAST STOCKS-Banks pressure #Saudi, Global Telecom leads Egypt gains | Reuters

MIDEAST STOCKS-Banks pressure Saudi, Global Telecom leads Egypt gains | Reuters:

Saudi Arabia's stock market fell on Tuesday as most of its bank shares dropped while Egypt's blue-chip index gained, partly helped by Global Telecom on the prospect of it going private.

Market sentiment was also hurt by weak global markets, as prospects for a long-awaited Sino-U.S. trade deal were dealt another blow after the United States levelled sweeping criminal charges against China's telecom giant Huawei.

Saudi Arabia's index lost 0.5 percent with Al Rajhi Bank dropping 0.8 percent and Samba Financial Group shedding 1.6 percent.