Mideast Stocks: Gulf markets up as risk sentiment improves, Saudi hits 2-mth high | ZAWYA MENA Edition:
Most major Gulf stock markets posted broad gains on Tuesday, taking their cue from global markets that have been buoyed by expectations of an interest rate cut by the U.S. central bank, while the Saudi index hit a more than two-month high.
Saudi Arabia's main bourse added 0.4%, its seventh straight day of gains. The index has been rising since EFG Hermes forecast profit for the kingdom's financial sector to grow 7.6% in the second quarter.
Telecom giant Saudi Telecom jumped 2.6%, while National Commercial Bank was up 0.7%.
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