MIDEAST STOCKS-Major Gulf bourses get off to mixed start - Reuters:
Major stock markets in the Gulf were mixed in early trade on Monday, having rallied in the previous session buoyed by the OPEC+ group of oil producers agreeing to extend record production cuts until the end of July.
Saturday’s deal between OPEC and other producers led by Russia prolongs a pact that has helped crude prices to double in the past two months by withdrawing almost 10% of global supplies from the market.
Saudi Arabia’s benchmark index eased 0.1% in early trade, hurt by a 0.6% drop in oil giant Saudi Aramco and a 0.5% decline in petrochemical firm Saudi Basic Industries .
However, the index’s fall was cushioned by gains in financial stocks including Al Rajhi Bank, which was up 0.7%
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