MIDEAST STOCKS-Banks hurt #Saudi shares; other Gulf markets little changed - Reuters

MIDEAST STOCKS-Banks hurt Saudi shares; other Gulf markets little changed - Reuters:

Saudi Arabia’s stock market slipped on Tuesday, hurt by losses in banking shares, before Saudi Aramco’s listing. Other major Gulf markets were little changed.

Oil giant Saudi Aramco is listing its shares on Wednesday on the Saudi exchange after completing the largest initial public offering on record.

In Saudi Arabia, the benchmark index slipped 0.3%. Saudi British Bank fell 2.3% and National Commercial Bank 0.7%.

Saudi Aramco has priced its IPO at 32 riyals ($8.53) per share, raising $25.6 billion, more than Alibaba’s $25 billion listing in 2014.