Mideast Stocks: Gulf markets mixed; Egypt snaps losing streak

Mideast Stocks: Gulf markets mixed; Egypt snaps losing streak

Stock markets in the Gulf ended mixed on Monday, with financial shares driving the Dubai index higher, while gains in Commercial International Bank supported Egypt.Saudi Arabia's benchmark index gained 0.3%, with Jabal Omar Development rising 5.4% and Dr Sulaiman Al-Habib Medical Services was up 1.5%.Saudi Arabia's state oil producer cut its October official selling price (OSP) for its Arab Light crude oil to all destinations, the company said on Saturday.Aramco reduced the OSP for its Arab Light crude grade to Asia by $1.40 a barrel, setting it at a minus $0.50 per barrel versus Oman/Dubai average.Dubai's main share index rose 0.6%, led by a 4.2% leap in logistic firm Aramex and a 0.9% gain Emirates NBD Bank.Dubai's $2 billion dual-tranche bond sale on Wednesday was backed mostly by funds in