Mideast Stocks: Most Gulf markets gain; Saudi bourse slips

Mideast Stocks: Most Gulf markets gain; Saudi bourse slips

Most Middle Eastern markets ended higher on Wednesday, with Bahrain outperforming the region, while bank stocks weighed on the Saudi index.Saudi Arabia's benchmark index slipped 0.1% and snapped a four-session winning streak, weighed by Al Rajhi Bank's 0.4% fall and Riyad Bank's  1.3% tumble.Saudi Arabia's largest telecoms operator Saudi Telecom Company (STC) gained 1% as STC has asked banks to pitch for roles in a potential public offering of its products and services development arm, Reuters reported, citing sources. Saudi Chemical Company surged 9.9%, extending gains from the previous session, when the chemicals firm signed a memorandum of understanding with the Russian Direct Investment Fund to provide a coronavirus vaccine in the kingdom. Dubai's main share index rose 0.4%, supported by a 2.1% gain in blue-chip developer Emaar Properties and a 3.4%