MIDEAST STOCKS-Banks buoy Saudi index; other major Gulf markets quiet - Agricultural Commodities - Reuters:
The Saudi Arabian stock market rose in early trade on Sunday, buoyed by its banking shares, while other major Gulf bourses were little changed.
Saudi Arabia’s benchmark index gained 0.6%, driven by a 0.5% rise in Al Rajhi Bank and a 1% increase in Riyad Bank.
The kingdom extended for an additional period several government initiatives to support the private sector and investors in mitigating the impact of the coronavirus outbreak, state news agency SPA reported on Thursday, citing a decision by King Salman.
In Qatar, the index slipped 0.1%, with lender Masraf Al Rayan falling 1.5% and Qatar National Bank , the Gulf’s largest lender, down 1.1%.
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