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Middle East Stocks Advance With Wall Street, Brent Oil Prices

Mideast shares rose in line with overnight gains on Wall Street and Brent crude's move above $50 per barrel.

In company news, Saudi British Bank said its board proposed a higher dividend of 1.0 riyal per share for the

second half of the year, after 0.96 riyal for the first half.

Samba Financial Group proposed a dividend of 1.0 riyal for the first half.

Saudi Cable Co said on Wednesday it reached a final settlement with creditors on 313.6 million riyals ($83.60 million) of loans.

Saudi Arabia's main index added 0.5% to 7,749 points, Egypt jumped 1.1% to 12,984 points, Dubai was flat at 2,469 points, Abu Dhabi gained 0.3% to 4,831 points, Qatar rose 0.6% to 10,288 points, Kuwait firmed 0.2% to 5,267 points, Bahrain inched up 0.3% to points and Oman edged higher 0.4% to 4,344 points.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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