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Bloomberg
Middle East stocks generally advanced on Sunday, catching up with emerging-market peers, as traders returned to work following holidays.
Gauges in Saudi Arabia, Dubai, Kuwait, Bahrain, Oman and Egypt climbed following last week’s increase for the MSCI Emerging Markets Index. Stock exchanges in the Arab world were closed for most of last week due to Eid al-Fitr, the holiday marking the end of the holy fasting month of Ramadan.
Emerging-market stocks advanced for a second week as hopes for policy easing in major economies offset concern about US-Mexico trade frictions. An index tracking currencies from developing nations also posted a third consecutive weekly gain.
The Tadawul All Share Index ended 2.2 percent higher. Al Rajhi Bank, Sabic and National Commercial Bank contributed most to the increase.
Saudi Public Transport Co rose 10 percent, more than any other index member. The company said that local authorities allowed one of its subsidiaries to operate a bus network in Riyadh.