MIDEAST STOCKS-Gulf reverses earlier gains on profit-taking, volumes thin - Reuters:
Middle East stock markets reversed
earlier gains and closed in negative territory on Sunday, hit by
profit-taking and disappointing quarterly results from some
companies, with trading thin ahead of Ramadan.
The Saudi index was the worst hit in the Gulf,
losing 1.7 percent, pulled down by heavyweight names in the
banking and petrochemical sectors.
Al Rajhi Bank, Saudi Arabia’s second-largest
lender by assets, lost 2.5 percent and Alinma Bank
shed 1.7 percent.
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