MIDEAST STOCKS-Saudi gains as oil output recovers; other markets mixed - Agricultural Commodities - Reuters:
Saudi Arabia’s key stock index rose 0.2%, with Al Rjahi Bank gaining 1%, while Sahara International Petrochemical (Sipchem) advanced 3.4% after its board approved a higher first-half dividend compared to a year earlier.
Other petrochemical stocks also increased after they said feedstock supplies from Saudi Aramco (IPO-ARAM.SE) returned to normal. Saudi Kayan Petrochemical added 1.2% and Rabigh Refining And Petrochemical climbed 0.3%.
Qatar traded 0.1% higher, with Mesaieed Petrochemical Holding rising 2.3%, while Qatar Islamic Bank gained 0.5%.
Rating agency Moody’s on Tuesday said the outlook for Qatar’s banking sector remained stable as infrastructure spending drives economic growth.
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