MIDEAST STOCKS-Banks push Saudi lower, DP World gains on earnings - Reuters:
Saudi Arabian stock market fell in early trade on Thursday pulled lower by its banking shares while other Gulf stocks traded higher.
In Saudi Arabia, the index fell 0.5% as Al Rajhi Bank dropped 0.6% and Samba Financial Group lost 1.3%.
Banking stocks have come under pressure in recent weeks from the Saudi central bank’s decision to follow the U.S. Federal Reserve in cutting interest rates, which analysts expect to squeeze lenders’ profit margins.
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