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Tuesday, 11 October 2016

MIDEAST STOCKS-QNB leads Qatar higher, oil supports Saudi petrochemical sector | Reuters

MIDEAST STOCKS-QNB leads Qatar higher, oil supports Saudi petrochemical sector | Reuters:

"Positive third-quarter earnings from Qatar's largest listed stock helped boost Doha's index in early trade on Tuesday, while crude oil prices near one-year highs boosted sentiment in Saudi Arabia's petrochemical sector.

Qatar National Bank gained 0.7 percent after it reported a 10.2 percent increase in third-quarter net profit. The main market index was up 0.4 percent.

The bank posted a profit of 3.45 billion riyals ($947.5 million) compared with 3.13 billion riyals in the corresponding period of 2015. Three analysts polled by Reuters had on average forecast 3.26 billion riyals."



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