Thursday 11 July 2013

MIDEAST STOCKS-Bank earnings weigh on Saudi; Egypt rebound falters | Reuters

"Saudi Arabia's Al Rajhi Bank fell on Thursday, souring bourse sentiment after the kingdom's largest listed lender posted a near-flat quarterly profit, while other Gulf markets gained on earnings optimism.

Thin trading volumes again plagued most markets on the second day of Ramadan, the Muslim holy month.

Shares in Al Rajhi fell 1.6 percent, trimming 2013 gains to 15.8 percent. The lender posted near-flat earnings as pressure on net interest margins crimped bottom-line growth."

'via Blog this'

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