Sunday, 8 December 2019

MIDEAST STOCKS-Banks boost #Saudi stocks, property shares lift #Dubai - Reuters

MIDEAST STOCKS-Banks boost Saudi stocks, property shares lift Dubai - Reuters:

Saudi Arabia’s stock market rose sharply on Sunday, buoyed by gains in banking shares, while Dubai’s index was up as most of its real estate stocks opened higher.

In Saudi Arabia, the benchmark index rose 1.6% as Al Rajhi Bank increased 1.4% and National Commercial Bank advanced 2.6%.

Elsewhere, Arabian Centres added 2.9% after its board approved a 0.90 riyal per share dividend for the first half.

Meanwhile State-owned oil giant Saudi Aramco has priced its initial public offering (IPO) at 32 riyals ($8.53), the top of its indicative range, the company said on Thursday, which would make it the world’s biggest flotation by raising more than Alibaba’s $25 billion listing in 2014.

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