MIDEAST STOCKS-Saudi stocks pressured by banks, Industries Qatar lifts Doha - Reuters:
Saudi shares ended lower on Sunday, hit by
weakness in banking stocks, while the Qatari index snapped a three-day losing
streak as Industries Qatar's rebounded after steep declines on its
first-half results.
The Saudi index eased by 0.3%, with Saudi British Bank
dropping about 1.3% and Samba Financial Group falling 1.3%. The Riyadh
market had resumed trade after closing last week for the Eidul Adha religious
festival.
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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