Google+ Followers

Monday, 17 October 2016

MIDEAST STOCKS-Saudi shares hit by Q3 earnings, most of region weak | Reuters

MIDEAST STOCKS-Saudi shares hit by Q3 earnings, most of region weak | Reuters:

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

The Saudi index slipped 1.2 percent as Alinma Bank , the most heavily traded stock, dropped 2.9 percent.

Alinma was the latest in a string of Saudi banks to report weak quarterly earnings as the slow economy increases impairment charges on loans; it 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'