MIDEAST STOCKS-Saudi gains on banking strength; UAE bourses slip as financials weigh - Reuters:
Saudi Arabian shares rose in early trade on Tuesday, led by gains in banking stocks, while losses in financials weighed on Dubai and Abu Dhabi equity markets.
The Saudi Arabian benchmark index rose 0.4%, with Saudi British Bank and Al Rajhi Bank gaining 1.7% and 0.5%, respectively.
National Shipping Carrier of Saudi Arabia (Bahri) gained 0.7%, after Saudi state-owned companies SALIC and Bahri announced forming a commodities joint venture, National Grains Company, on Monday.
Dubai’s main share index dropped 0.5%, dragged by a 2.7% decline in Emirates NBD Bank and a 1% fall in blue-chip developer Emaar Properties.
The Abu Dhabi index lost 0.6%, hurt by a 1% fall in the country’s largest lender First Abu Dhabi Bank and a 0.4% slip in telecoms firm Etisalat.
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