Google+ Followers

Wednesday, 15 March 2017

MIDEAST STOCKS-Gulf markets mixed but banks buoy Saudi | Reuters

MIDEAST STOCKS-Gulf markets mixed but banks buoy Saudi | Reuters:

"Gulf stock markets were mixed on Wednesday but Saudi Arabia was boosted by banks after credit rating agency Moody's raised its outlook for the kingdom's banking system to "stable" from "negative".

The Saudi stock index climbed 0.7 percent as 11 of the 12 listed banks gained, with the biggest, National Commercial Bank, rising 2.4 percent.

"Saudi banks' liquidity and funding conditions will improve. Although profitability and loan performance will continue to soften, Saudi banks will maintain robust capital and loss-absorption buffers compared with regional and international peers over the outlook horizon," Moody's said."



'via Blog this'