MIDEAST STOCKS-Saudi telcos boost index; Egypt up after Islamist leader arrest | Reuters:
"Saudi Arabia's bourse snapped a three-session losing streak on Wednesday after two of its top telecom operators posted estimate-beatings earnings and lifted sentiment, while Egyptian shares rallied in mixed regional markets.
Saudi Telecom Co (STC) jumped 7.4 percent to its highest since April 2010 after its third-quarter profit comfortably beat estimates.
The firm attributed a 73 percent rise in profit to a jump in cost savings.
"The main focus should be on cost efficiencies and if it can be sustained going forward," said Omar Maher, equity research analyst at Cairo's EFG Hermes."
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