MIDEAST STOCKS-Financials lead most Gulf bourses higher, but Egypt retreats - Reuters:
Most major Gulf markets rose on Sunday as
financial shares climbed, with Saudi leading the gains, though
Egypt was pressured by a sell-off in blue chip stocks.
Saudi's benchmark index ended up 0.7%, with Al Rajhi
Bank rising 1.2% and Saudi Basic Industries
gaining 0.9%.
State-owned Saudi Aramco inched up 0.1%. On
Tuesday Aramco said Goldman Sachs may make additional purchases
of the oil giant's shares to support the price of the stock. The
so-called stabilisation period will end on Jan. 9.
But Arab National Bank lost 1.3%. Post trading
hours, the lender's board proposed a lower second-half dividend.
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