MIDEAST STOCKS-Most Gulf markets rise, Saudi outperforms - Reuters:
Most Gulf stock markets rose on Monday, with Saudi Arabia
outperforming its regional peers on the back of a rise in banking stocks and a
rebound in shares of oil giant Saudi Aramco.
The Saudi index rose for a seventh consecutive session and was up
1.4%. Samba Financial Group and Banque Saudi Fransi
increased 5.9% and 3.9%, respectively.
Aramco edged up 0.9% to 35.6 riyals on bargain-hunting after four straight
sessions of losses.
The Aramco stock's recent fall raised investors' appetite to buy more shares
to average down the cost of investment after having bought at higher prices, an
investor told Reuters.
Saudi Industrial Investment Group climbed 6.5% to its biggest
intraday rise since Oct. 15, 2018. The company's board recommended a 0.75 riyal
per share dividend for the second half of the year.
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