MIDEAST STOCKS-Banks lift #Saudi index; blue-chip sell-off dents Egypt - Reuters

MIDEAST STOCKS-Banks lift Saudi index; blue-chip sell-off dents Egypt - Reuters:

The Saudi Arabian stock market ended
higher on Wednesday, as the Organization of the Petroleum
Exporting Countries (OPEC) and its allies meet to discuss future
oil output cuts, but Egypt saw a sharp decline as all its
blue-chip stocks fell except one.

Key members of OPEC and allies including Russia,
collectively known as OPEC+, are set to decide whether to extend
output cuts of 9.7 million barrels per day (bpd) that end in
July or ease them to 7.7 million bpd.

The benchmark index in Saudi Arabia, the de facto
leader of OPEC, gained 0.5%. Al Rajhi Bank added 0.4%,
whereas lender Samba Financial Group ended 1.1% up.

Outside the Gulf, Egypt's blue-chip index declined
2.4%, with Commercial International Bank losing 3.4%
and investment bank EFG Hermes sliding 7.3%.