MIDEAST STOCKS-Global mood lifts most of Gulf; Egypt extends losses - Reuters

MIDEAST STOCKS-Global mood lifts most of Gulf; Egypt extends losses - Reuters:

All major Gulf bourses rose on Monday,
taking a cue from global equity markets as investors turned
optimistic about some progress in U.S.-China trade talks, but
Egypt remained pressured due to sell-off in blue chip stocks.

A Chinese state-backed newspaper reported that Beijing and
Washington were "very close" to an initial trade agreement,
adding to optimism from Friday, when the presidents of both
countries reiterated their desire for a deal.

In Saudi Arabia, the benchmark index edged up 0.2%,
driven by a 2.9% hike in Saudi British Bank and a 0.5%
increase in Al Rajhi Bank.

In the previous session, the index snapped a five-day rally,
which was triggered following a lending boom related to Saudi
Aramco's public listing.