MIDEAST STOCKS-Saudi gains on financials; blue-chip sell-off trips Egypt - Reuters:
Saudi Arabian stocks rose on Monday, led
by gains in financial shares, but Egypt saw a sharp decline as
most blue-chip stocks fell.
Saudi Arabia's benchmark index advanced 0.9%, with
Al Rajhi Bank rising 1.1% and National Commercial Bank
climbing 1.3%.
Mediterranean and Gulf Cooperative Insurance and Reinsurance
(MedGulf) climbed 2.7%, a day after it signed a health
insurance contract with Saudi Electricity. However,
Saudi Electricity traded 0.6% down.
Saudi Industrial Export was up 1.8% following its
board approval on Sunday to open a branch in Baghdad.
Basic Chemical Industries hiked 1.7%. The chemical
firm, in a bourse filing, said that it has completed 35% of work
in its chlorine production project at Jubail Industrial City.
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