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Tuesday, 17 January 2017

MIDEAST STOCKS-Qatar strong, Saudi recovers, Egypt extends bull run | Reuters

MIDEAST STOCKS-Qatar strong, Saudi recovers, Egypt extends bull run | Reuters:

"Qatar's stock market rose to a multi-month high on Tuesday in the heaviest volume since late November, buoyed by the banking sector, while firmer oil prices supported the rest of the Gulf and foreign investors bought up Egyptian shares. Qatari Islamic bank Masraf Al Rayan jumped 4.0 percent to 40.45 riyals after its board recommended a dividend for 2016 of 2.0 riyals per share, above the 1.75 riyals paid in 2015. It is in talks to merge with two other local lenders. It reported an 8 percent drop in fourth-quarter net profit to 515.0 million riyals ($141.5 million), mid-way between EFG Hermes' forecast of 478.4 million riyals and QNB Financial Services at 549.7 million riyals."



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