MIDEAST STOCKS-Banks lift Saudi, other Gulf markets mixed - Agricultural Commodities - Reuters:
Saudi Arabian stocks rose in early trade on Wednesday, supported by gains for banks amid rising oil prices, while other major Gulf markets were mixed.
Oil prices climbed more than 1% on news that OPEC and its allies are considering further output cut to counter any potential impact on oil demand from the coronavirus outbreak in China.
Saudi Arabian’s benchmark index was up 0.4%, with Al Rajhi Bank gaining 0.8% while Bank Albilad jumped 2.2% after reporting a 103% leap in annual profit to 1.24 billion riyals ($330.5 million).
Elsewhere, Shopping mall operator Arabian Centres dropped 3.5% after third-quarter profit declined by almost 60% to 110.6 million riyals.
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