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MIDEAST STOCKS-Saudi stocks gain as Aramco rebounds; other markets little changed

    * Saudi Aramco closes up at 34.6 riyals
    * National Medical Care gains on contract
    * 28 of 30 Egyptian blue-chips slide
    * First Abu Dhabi Bank lifts Abu Dhabi

    By Maqsood Alam
    Jan 20 (Reuters) - Saudi stocks edged up on Monday, supported by gains in
financial shares and a rebound by Saudi Aramco after three sessions of losses,
while other Middle Eastern markets were little changed.
    Saudi Arabia's index gained 0.2% as Saudi Aramco reversed
course to close up 0.7% at 34.6 riyals ($9.22), offsetting earlier losses. 
    On Sunday, Al Rajhi Capital Research rated Aramco "neutral", in line with
most other brokerages, and set a target price of 37.5 riyals per share.
    JP Morgan was the first major brokerage to initiate coverage of Saudi
Aramco, rating it "overweight" and setting a price target of 37 riyals per
share. It said it sees scope for an increase in the company's proposed $75
billion base dividend.
    Banque Saudi Fransi rose 1.8% and the chemicals company Saudi
Basic Industries gained 0.8%. National Medical Care < 4005.SE> gained
1.7% after the government awarded a medical services contract worth 278.5
million riyals ($74.24 million).
    The Abu Dhabi index was up 0.8% as First Abu Dhabi Bank rose
 1.2%. Aquaculture firm International Holding jumped 9.9%.
    In Egypt, the blue-chip index declined 1% as 28 of 30 stocks fell,
including Commercial International Bank Egypt, which declined 1.8%,
Talaat Mostafa Group Holding, which closed down 3.2%.
    Egyptians and Arab investors were net seller of stocks, according to
exchange data.
    Dubai shares snapped a seven-session winning streak, closing down
0.4%. Emirates NBD fell 1.1% and Dubai Islamic Bank 0.5%.
    The Qatari index slipped 0.2%, also after seven sessions of gains, as
Industries Qatar fell 0.9% and the Gulf's largest bank, Qatar National
Bank, lost 0.5%.
    
 SAUDI ARABIA          gained 0.2% to 8,470 points
 ABU DHABI            rose 0.8% to 5,213 points
 DUBAI                  slipped 0.4% to 2,851 points
 QATAR                was down 0.2% to 10,690 points
 EGYPT                  dropped 1% to 13,774 points
 BAHRAIN              edged up 0.1% to 1,643 points
 OMAN                 inched up 0.1% to 4,076 points
 KUWAIT               was down 0.2% to 7,124 points
 

($1 = 3.7515 riyals)

 (Reporting by Maqsood Alam in Bengaluru)
  
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