MIDEAST STOCKS-Saudi outshines as Gulf rebounds on receding Mideast tensions - Reuters:
Middle Eastern stock markets rebounded on
Thursday, with Saudi outperforming the region, as investors
repositioned themselves on signs of no further escalation
between Tehran and Washington.
U.S. President Donald Trump responded to an Iranian attack
on U.S. forces with sanctions, not violence. On Wednesday, Iran
fired missiles at military bases housing U.S. troops in Iraq in
retaliation for a U.S. drone strike that killed an Iranian
general.
Saudi Arabia's benchmark index advanced 2.7%, its
biggest intraday gain since Oct. 2018. Al Rajhi Bank
leapt 2.3%, while state-owned Saudi Aramco climbed
2.3% to 35 riyals, snapping four straight days of losses.
897.2 million riyals ($239.19 million) worth of Aramco
shares were traded by the close, with around 25.8 million shares
exchanging hands, Refinitiv data showed.
Dubai's main share index rebounded 1.3%, a day
after it fell 1.2%, led by gains at financial shares. Dubai
Islamic Bank, the United Arab Emirates largest
sharia-compliant lender, rose 1.3% and Emirates NBD Bank
was up 1.2%.
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