⁍ Saudi Arabian shares ended higher on Sunday as Saudi Industrial Investment Group 2250.SE and National Petrochemical Company 2002.SE surged on news the two were in merger talks.

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⁍ Egypt’s blue-chip index extended losses for a second session.

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– Arab markets were mixed on Sunday, with Saudi Arabia’s benchmark index up 0.3% and Egypt’s blue-chip index down for a second day, per Reuters. Saudi Industrial Investment Group and National Petrochemical Company surged on news the two were in merger talks, while Egypt’s blue-chip index extended losses for a second session. Saudi Arabia’s benchmark index rose 0.3%, with SIIG 2250.SE advancing 5.5% and National petrochemical Company 2002.SE jumping 6.8%. A deal between the two would mark further consolidation in the Saudi petrochemicals sector after oil giant Saudi Aramco bought a 70% stake in Saudi Basic Industries 2010.SE in June. Last week, ADIB signed a memorandum of understanding with Israel’s Bank Leumi to explore areas for future cooperation in the United Arab Emirates, Israel, and other international markets. In Qatar, the index slipped 0.3%, hurt by a 1.7% decline in petrochemical maker Industries Qatar IQCD.QA. Outside the Gulf, Egypt’s blue-chip index dropped 0.7%, with most of the stocks on the index in negative territory including Commercial International Bank COMI.CA which fell 0.5%.