MIDEAST STOCKS-Saudi eases; other Gulf markets mixed - Reuters:
Major Gulf stock markets were mixed in early trade on Wednesday as banking shares weighed on the Saudi index, while property shares supported the Dubai index.
The benchmark index of Saudi Arabia, which has reported the highest number of new coronavirus infections in the six countries of the Gulf Cooperation Council (GCC), slipped 0.3%. Al Rajhi Bank dropped 0.3%, while National Commercial Bank, the kingdom’s largest lender, was down 0.5%.
However, Saudi Arabian Mining Company rose 0.9%. On Tuesday, Saudi Arabia’s cabinet approved a new mining law that facilitates investor access to financing and supports exploration and geological survey activities, state news agency SPA said, quoting the minister of mining and industry, Bandar Alkhorayef.
In Dubai, the index rose 0.6%, with Emaar Properties rising 2.5% and Emirates Integrated Telecommunications up 1.6%.
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