MIDEAST STOCKS-Banks lead Saudi lower, UAE extends gains - Agricultural Commodities - Reuters:
Saudi Arabia’s shares gave up early gains on Tuesday as banks led the index lower, while markets in the United Arab Emirates extended gains after a recent sell-off made stock valuations more attractive to investors.
Saudi’s index rose as much as 0.8% at the open before changing tack to trade 1.1% lower. Al Rajhi Bank dropped 2.2% and Riyad Bank 4.4%.
A second batch of Saudi shares will be added to the MSCI emerging markets index on Wednesday after the country’s stocks were first included in the index in May.
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