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MidEast Shares Mixed, Egypt Rises On Return from Long Eid Al-Adha Holiday

Middle East stocks were mixed, with Egypt rising amid foreign buying on the first day back after a long Eid al-Adha holiday.

Other markets were weighed by a drop in Brent crude below $48 per barrel amid global economic uncertainties.

In company news, Amer Group after it won regulatory approval for a previously announced plan to split into two companies, which it said would create more business opportunities and boost trading in its shares. A new firm, Porto, would handle projects including resorts and spas.

Commercial International Bank was reiterated a buy at NBK Capital on Sunday with a fair value of 64.40 pounds.

Dubai's main index dropped 0.8% to 3,582 points, Abu Dhabi added 0.5% to 4,516 points, Egypt gained 0.9% to 7,409 points, Kuwait firmed 0.2% to 5,764 points and Oman dipped 0.1% to 5,768 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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