MIDEAST STOCKS-Saudi falls as banking shares slip; UAE markets closed for holiday - Reuters:
The Saudi Arabian stock market snapped a two-day rally to trade lower on Monday, pulled down by losses in banking shares, while Qatar was largely unchanged.
Dubai and Abu Dhabi stock markets are closed for three-day public holiday and will resume trading on Dec. 4.
Saudi Arabia’s benchmark index fell 0.5%, with Al Rajhi Bank shedding 0.8% and National Commercial Bank decreasing 0.7%.
The kingdom’s stock exchange Tadawul has introduced the index cap of 15%, a move designed to address concerns that oil giant Saudi Aramco will outweigh other listings socking up market liquidity when it lists on the exchange.
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