Mideast Stocks: Saudi outperforms Gulf markets; Egypt extends losses

Mideast Stocks: Saudi outperforms Gulf markets; Egypt extends losses

Saudi Arabia's stock market ended higher on Tuesday, boosted by gains in the banking sector, while the Egyptian bourse retreated for a second straight session.The kingdom's benchmark index advanced 1.2%, with Al Rajhi Bank rising 3.2% and oil giant Saudi Aramco adding 0.6%.Aramco is moving ahead with plans to boost crude output capacity by 1 million barrels per day (bpd) to 13 million bpd despite cuts in capital expenditure this year and next year, the state oil group's CEO Amin Nasser said on Monday. Elsewhere, retailer Jarir Marketing Company gained 2.9% after proposing a dividend of 1.70 riyal per share for the second quarter, versus 1.40 riyal a year earlier. Dubai's main share index edged up 0.2%, as blue-chip developer Emaar Properties gained 0.8%.A fall of 1.8% in shares of Air Arabia