MIDEAST STOCKS-Disappointing Q3 earnings hit Saudi, Egypt rebounds | Reuters

MIDEAST STOCKS-Disappointing Q3 earnings hit Saudi, Egypt rebounds | Reuters:

"Saudi Arabia's stock market fell
on Monday after disappointing third-quarter earnings at several
companies, while Egypt rebounded from two days of losses because
of worries about currency depreciation.

The main Saudi index lost 0.4 percent as industrial
materials maker National Industrialization Co (Tasnee)
tumbled 8.0 percent after reporting a surprise quarterly loss,
which it blamed on "lower average sales prices and lower sales
volumes".

Saudi Arabian Mining Co (Ma'aden) slid 4.3 percent
after reporting third-quarter net profit plunged 83.5 percent
plunge to 79.9 million riyals ($21.3 million); analysts had
forecast 209 million to 265 million riyals. "



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