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Egypt leads gains in major Middle East stock markets

Most of the major stock markets in the Middle East rose on Sunday amid widespread gains for Egyptian stocks as financial sector stocks led the upside.

The main Egyptian index rose 2%, Commercial International Bank rose 2.3% and investment bank EFG Hermes closed up 4.9%.

The Saudi benchmark index rose 0.8 percent, led by Saudi Industrial Investment Group, up 10 percent, and Riyad Bank, which advanced 2.6 percent.

The share of Al-Oweijan Holding Company, which invests in petrochemicals, jumped 9.9 percent, after it announced last week that its second-quarter losses narrowed to 46.4 million riyals ($ 12.37 million) from 78.7 million riyals a year ago.

In Qatar, the index increased 0.4%, as the share of Qatar Petrochemical Producing Industries rose 4.4%.

The Dubai and Abu Dhabi bourses are closed today for a public holiday.

The following are the closing levels of the Arab stock market indices today:

Saudi Arabia … the index increased 0.8 percent to 7902 points.

Qatar .. The index rose 0.4 percent to 9,809 points.

Egypt .. The index rose 2 percent to 11,391 points.

Bahrain .. the index settled at 1,355 points.

Sultanate of Oman .. The index rose 0.6 percent to 3629 points.

Kuwait .. The index lost 1.9 percent to record 5,646 points.

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