MIDEAST STOCKS-Gulf markets gain after no escalation in U.S.-Iran tensions - Reuters:
Middle East stocks closed
higher on Sunday amid relief at no further escalation
in tensions between Iran and the United States, but
shares of Saudi Aramco retreated.
Last week, U.S. President Donald Trump backed away
from days of angry rhetoric against Iran as the two
countries tried to defuse a crisis over the U.S.
killing of Iranian military commander Qassem
Soleimani.
Saudi Arabia's index rose 0.3%, led by a
5.6% jump in telecom operator Etihad Etisalat
.
Advanced Petrochemical added 2.2% after
reporting a 5.9% increase in its estimated annual
profit to 759 million riyals ($202 million).
Gains, however, were capped by losses in financial
and energy shares. Samba Financial Group
dropped 2.8%, while Saudi Aramco fell 0.6% to 34.8
riyals.
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