Saudi bourse gains on upbeat earnings, non-oil activity; Egypt falls – Reuters

Saudi bourse gains on upbeat earnings, non-oil activity; Egypt falls – Reuters

March 5 (Reuters) - Saudi Arabia's stock market extended gains for a third session on Sunday on buoyant earnings and upbeat non-oil business activity, while the Egyptian bourse fell further on profit taking.

The benchmark index (.TASI) in Saudi Arabia gained 1.3%, buoyed by a 1.9% rise in Al Rajhi Bank (1120.SE) and a 0.8% increase in Retal Urban Development Co (4322.SE).

The kingdom's non-oil business sector activity soared to its highest level in eight years in February, a survey showed on Sunday, based on a strong increase in demand and an optimistic economic outlook.