Mideast Stocks: Banks lead Saudi gains, Emirates NBD lifts Dubai | ZAWYA MENA Edition:
Saudi Arabia's stock market rose on Tuesday on the back of its blue-chip banks, while Dubai's gains were led by its top lender Emirates NBD.
Saudi Arabia's index gained 0.4 percent, with Al Rajhi Bank climbing 0.6 percent after the Capital Market Authority approved an increase in capital. The bank proposed a capital increase of up to 25 billion riyals ($6.67 billion) from 16.25 billion riyals.
National Commercial Bank was up 0.4 percent. Ratings agency Moody's said the bank's brand and diversified assets make it resilient to slower economic growth in Saudi.
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