Wednesday 15 April 2015

MIDEAST STOCKS-Strong earnings fuel Saudi, Dubai surges in heavy trade | Reuters

MIDEAST STOCKS-Strong earnings fuel Saudi, Dubai surges in heavy trade | Reuters:



"Positive earnings reports and stronger oil boosted most major Gulf markets on Wednesday, while stocks in energy-importing Egypt were soft.



The main Saudi index jumped 2.2 percent to 9,164 points, a three-week closing high, as National Commercial Bank (NCB), the kingdom's biggest lender, climbed 2.3 percent.



NCB posted a 2.8 percent rise in first-quarter net profit to 2.61 billion riyals ($696 million), above SICO Bahrain's forecast of 2.15 billion riyals."



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