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Wednesday, 19 October 2016

MIDEAST STOCKS-SABIC lifts Saudi, CBQ weighs on Qatar | Reuters

MIDEAST STOCKS-SABIC lifts Saudi, CBQ weighs on Qatar | Reuters:

"Saudi Basic Industries helped lift Riyadh's stock market early on Wednesday after it reported a third-quarter net profit at the top end of forecasts, but a loss at Qatar's third- largest bank dragged that market lower.

Riyadh's stock index was up 0.4 percent after half an hour of trade.

SABIC, the Gulf's largest petrochemical producer, climbed 1.5 percent after posting a net profit of 5.22 billion riyals ($1.39 billion) in the three months to Sept. 30, down 6.8 percent from a year ago. Analysts polled by Reuters had on average predicted 5.05 billion riyals."



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