Google+ Followers

Monday, 17 October 2016

MIDEAST STOCKS-Saudi shares fall on Q3 earnings, rest of region soft | Reuters

MIDEAST STOCKS-Saudi shares fall on Q3 earnings, rest of region soft | Reuters:

"Saudi Arabia's stock market fell in early trade on Monday after another set of disappointing third-quarter earnings. Other markets in the region were also weak in line, with the trend in Asia.

The Saudi index slipped 0.7 percent in the first hour as Alinma Bank, the most heavily traded stock, dropped 2.2 percent.

Alinma, the latest in a string of Saudi banks to report weak quarterly earnings as the slow economy increases impairment charges on loans, posted a 16.8 percent fall in third-quarter net profit to 312 million riyals ($83.2 million); analysts had on average forecast 409.1 million riyals."



'via Blog this'