MIDEAST STOCKS-Financials buoy Saudi shares; Aramco's retreat continues - Reuters:
Financial shares helped lift Saudi
Arabia's stock market for a fifth consecutive session on
Thursday, while top lender Commercial International Bank
supported Egypt's bourse.
Saudi's benchmark index rose 0.5%, with Al Rajhi
Bank and National Commercial Bank, rising
1.5% and 2.8% respectively.
Among petrochemicals, Saudi Basic Industries was
up 0.9% after its affiliate Clariant said that it is
selling its masterbatches unit to U.S.-based PolyOne Corp
for $1.6 billion. It will pay shareholders
about $1 billion from the proceeds.
Basic Chemical Industries jumped 4.2% following
its board proposal for 2019 cash dividend of one riyal per
share.
However, Saudi Aramco's shares fell for third day
in row, to close 3.3% down at 35.5 riyals ($9.46) a day after
their inclusion in the MSCI emerging- markets index. The oil
giant will also join the FTSE benchmark on Thursday.
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