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Monday, 18 July 2016

MIDEAST STOCKS-Gulf narrowly mixed in quiet trade; Saudi banks firm | Reuters

MIDEAST STOCKS-Gulf narrowly mixed in quiet trade; Saudi banks firm | Reuters:

"Gulf stock markets were narrowly mixed in quiet, early trade on Monday although Saudi Arabian banks rose after a couple of them announced second-quarter earnings.

The Saudi stock index edged up 0.2 percent in the first half-hour as Riyad Bank gained 0.9 percent. It posted a 1.6 percent year-on-year rise in second-quarter net profit to 1.15 billion riyals ($306.6 million); analysts polled by Reuters had on average forecast 1.03 billion riyals.

Samba Financial Group, which reported a 1.4 percent drop in quarterly profit that was in line with forecasts, climbed 1.7 percent."



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