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Tuesday, 25 April 2017

MIDEAST STOCKS-Dubai, Qatar resilient despite some weak Q1 results, Saudi slips | Reuters

MIDEAST STOCKS-Dubai, Qatar resilient despite some weak Q1 results, Saudi slips | Reuters:

"Stock markets in the Gulf most exposed to foreign trade held their ground on Tuesday, with Dubai and Qatar showing resilience in the face of disappointing results from blue-chip companies.

In Dubai, shares of Emirates Integrated Telecommunications (Du) lost 3 percent after reporting a net profit of 364.9 million dirhams ($99.35 million) in the three months to March 31, down 24 percent from the prior year period.

Analysts at SICO Bahrain forecast the telecommunication provider would make a net profit of 447.33 million dirhams and EFG Hermes estimated 474.02 million dirhams."



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