Saudi stocks slide on banks as most Gulf markets lower
|10/15/2019 | 04:05am|
(Reuters) - Most Gulf stock markets were lower on Tuesday with banking stocks weighing in Saudi Arabia.
The Saudi Arabian index <.TASI> shed 0.5% in early trading, as Riyad Bank declined 2.1% and National Commercial Bank, the kingdom's largest lender by assets, decreased 1.2%.
Saudi Arabian Mining Co (Ma'aden) slid 1.2%, having signed a cooperation agreement with Russia's PhosAgro to support food security.
But Deyaar Development rose 3%, extending gains. On Sunday the developer said its board will meet on Wednesday to approve third-quarter results.
Abu Dhabi's index <.ADI> was also down 0.4% as First Abu Dhabi Bank, the country's largest lender, slipped 0.7% while International Holding plunged 4.8%.
(Reporting by Ateeq Shariff in Bengaluru; editing by John Stonestreet)