MIDEAST STOCKS- #Saudi stocks lead Gulf higher as it eases foreign ownership limit - Reuters:
Saudi stocks rose on Thursday after the kingdom relaxed its limit on foreign share ownership, and other Gulf markets gained after falling in recent sessions amid political concerns.
Saudi’s stock index was up 0.6% in early trade with banks leading the gains. Arab National Bank rose 7% and Al Rajhi Bank added 0.7%.
Saudi Arabia has relaxed a 49% limit for foreign strategic investors in a company’s shares, aiming to attract foreign funds as the Kingdom opens up the region’s largest market.
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