MIDEAST STOCKS-Saudi, UAE markets rise on strong private sector growth - Reuters:
Saudi Arabia and United Arab Emirates’ stock markets rose on Monday after a survey showed their private sectors registered strong growth last month, while other major Gulf markets also gained reflecting the global rally.
Saudi’s index was up 0.4% in early trade with Al Rajhi Bank gaining 0.7% and petrochemical maker Saudi Basic Industries adding 1.4%.
Saudi Arabia’s non-oil private sector growth rose to a 17-month high in May as credit conditions improved, output expanded and output prices increased, a monthly survey of companies showed on Monday.
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