Mideast Stocks: Banks bolster Saudi, financials pull down Abu Dhabi | ZAWYA MENA Edition:
Saudi Arabian stocks rose in early trading on Wednesday as banks gained, while Abu Dhabi was weighed down by financial stocks.
Saudi Arabia's index rose 0.6 percent with its biggest petrochemical maker, Saudi Basic Industries Corp, adding 1 percent.
Al Rajhi Bank gained 0.8 percent. The Capital Market Authority has approved a capital increase at the bank, which is currently capitalised at 16.25 billion riyals ($4.3 billion). Al Rajhi has proposed increasing its capital to up to 25 billion riyals.
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