MIDEAST STOCKS-Saudi stocks end losing streak, Iran sanctions weigh on most of Gulf - Reuters:
Saudi Arabia's stock market snapped a
four-day losing streak in late wave of buying on Tuesday, while
other major Middle East bourses dropped after the United States
imposed sanctions on Iran's leadership.
Saudi Arabia's share index was up 0.6% with gains
coming in last 30 minutes of trading. Banks led the late rally
with Riyad Bank adding 2.8% and Saudi British Bank
climbing 2.7%.
The head of state-run energy giant Saudi Aramco said it
could use its spare capacity to meet customer demand, in
comments designed to ease concerns over oil supply security
caused by recent attacks on oil tankers near the Strait of
Hormuz, a key shipping route.
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