MIDEAST STOCKS-Banks hold back Saudi, Egypt rebounds on lender COMI - Reuters:
Saudi Arabia's stock market fell on
Monday, pulled down by losses in banking shares, while Egypt
rebounded on the back of its top lender Commercial International
Bank (COMI).
In Saudi Arabia, the benchmark index lost 0.8%, with
Al Rajhi Bank shedding 1.1% and Riyad Bank
sliding 3.5%. Earlier in the day, Riyad Bank had risen after
announcing a higher dividend for the second half.
Elsewhere, oil giant Saudi Aramco lost 0.7%, after
two days of gains. Last Tuesday, Aramco said Goldman Sachs may
buy more of its shares to support the price. The so-called
stabilisation period will end on Jan. 9.
Egypt's blue-chip index added 0.9%, buoyed by a
1.1% increase in the country's biggest lender Commercial
International Bank and a 2.9% rise in Eastern Company
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