Google+ Followers

Wednesday, 12 October 2016

MIDEAST STOCKS-Saudi banks rise, other markets follow global shares down | Reuters

MIDEAST STOCKS-Saudi banks rise, other markets follow global shares down | Reuters:

"Saudi Arabian banking shares rose on Wednesday after a major bank posted earnings in line with analysts' estimates, while other regional stock markets retreated in line with global shares.

Riyadh's index rose 0.7 percent as all but one of the 12 listed banks advanced.

Banque Saudi Fransi, the second major Saudi lender to report third-quarter earnings, gained 2.8 percent after posting net profit of 1.01 billion riyals ($269 million), a 1.0 percent drop from a year ago but in line with analysts' average expectation of 1.04 billion riyals. The bank cited higher expenses and impairment charges."



'via Blog this'