MIDEAST STOCKS-Major Gulf indexes rise as financial stocks gain - Reuters

MIDEAST STOCKS-Major Gulf indexes rise as financial stocks gain - Reuters:

Major Gulf stock markets rose in early trade on Thursday, largely led by gains in financial shares, with many investors having returned from Eid Al-Adha holidays.

Saudi Arabia’s benchmark index gained 0.5%, driven by a 1% increase in Al Rajhi Bank and a 2.4% rise in Samba Financial Group.

Samba on Wednesday posted a 2% rise in quarterly net profit to 955 million riyals ($254.65 million), surviving a period marked by the coronavirus outbreak and weak interest rates.

Dubai’s main share index rose 0.7%, led by a 1.4% gain in Emirates NBD Bank and a 3.1% jump in logistic firm Aramex.