MIDEAST STOCKS-Saudi, Qatar lead Gulf markets higher after Eid holidays - Reuters:
All major Gulf markets performed
strongly on Monday after last week's holidays as a global rally
lifted regional sentiment, with Saudi and Qatar outperforming
and boosted respectively by expected foreign fund inflows and a
stock split.
"All MENA markets have come back strong from the Eid break.
The Global lead has been positive but the local factors are also
supportive," said Vrajesh Bhandari, senior portfolio manager at
Al Mal Capital.
Saudi's index rose 1.7% with its largest lender
National Commercial Bank jumping 3.6% and biggest
petrochemical maker Saudi Basic Industries adding
2.6%.
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