Mideast shares mostly rose, with Saudi stocks gaining again on foreign buying. Foreign investors have been net buyers of Saudi stocks every month this year, Reuters noted. In company news, Malath Cooperative Insurance said it renewed a vehicle insurance contract with Arab National Bank for a year. Premiums from the deal are expected to exceed 5% of its total annual sales.
Waha Capital said CEO Michael Raynes left the company and named one of its board members as managing director.
Saudi Arabia’s main index jumped 1.6% to 8,990 points, Abu Dhabi shed 0.6% to 4,966 points, Dubai was flat at 2,675 points, Qatar gained 0.8% to 10,584 points, Egypt rose 0.4% to 14,206 points, Bahrain dipped 0.1% to 1,450 points, Oman inched up 0.2% to 3,983 points and Kuwait advanced 0.9% to 6,497 points.