MIDEAST STOCKS-Saudi slips on banks; most other Gulf markets rise - Reuters:
Saudi Arabian stocks fell on Monday, dragged by banks, while other major Gulf markets rose mostly on the back of financials.
In Saudi Arabia, the benchmark index fell 0.3%, with Al Rajhi Bank dropping 1.3% and Alinma Bank shedding 0.6%.
Last week, the index rose for five sessions in a row, supported by banking stocks on a lending boom related to Saudi Aramco’s public listing.
Saudi banks are marketing loans to help locals subscribe Saudi Arabian Oil Co’s (Aramco) initial public offering (IPO), with some offering four times the usual lending limit, Reuters reported citing two financial sources.
No comments:
Post a Comment