Saudi stock market rises as financial shares gain strength

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Reuters

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Mon, 2020-11-16 00:40

DUBAI: Most major stock markets in the Middle East ended higher on Sunday, with Saudi Arabia leading gains on a rise in financial shares, while Egypt bucked the trend to close lower.

By Thursday major Gulf markets had logged weekly gains following positive developments in a COVID-19 vaccine, which boosted hopes of a faster-than-expected global economic recovery.

Saudi Arabia’s benchmark index increased 0.8 percent on Sunday, with Al-Rajhi Bank rising 1.4 percent, while utility firm Saudi Electricity jumped 5.1 percent.

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Business & Economy

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Saudi stock market

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