MIDEAST STOCKS-Banks weigh on Saudi, Dubai as most major Gulf markets fall - Reuters:
Most major Gulf stock markets fell on
Sunday, with Saudi Arabia hurt by losses in banking shares that
outweighed gains in Saudi Aramco and Emirates NBD dragging the
Dubai index lower.
Saudi Arabia's benchmark index closed down 0.3% as
Saudi Telecom dropped 2% and the country's largest
lender National Commercial Bank fell 1.3%.
But the index was supported by Saudi Aramco, which
rose 1.2% in its straight fifth session of gains.
The oil group received regulatory approval to develop Saudi
Arabia's Jafurah non-associated gas field, which would produce
some 550,000 barrels per day of gas liquids and condensates.
Separately, Reuters reported on Friday through sources that
Aramco is set to gain unconditional EU antitrust approval for
its $69 billion buy of a 70% stake in Saudi Basic Industries
Corp (SABIC). SABIC was up 0.6%.
The Dubai index was down 0.7%, with its biggest
lender Emirates NBD declining 2.3%. Air Arabia
lost 3.2%.
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