Google+ Followers

Monday, 24 April 2017

MIDEAST STOCKS-Mobily holds back Saudi index as Dubai drops and Egypt stabilises | Reuters

MIDEAST STOCKS-Mobily holds back Saudi index as Dubai drops and Egypt stabilises | Reuters:

"Saudi Arabian telecoms company Mobily slumped after worse than expected results on Monday, but the market was buoyed by stronger quarterly earnings from the insurance sector, while performance across the rest of the region was mixed.

Shares of Etihad Etisalat(Mobily) tumbled 6 percent to 21.05 riyals after it swung to a net loss of 163 million riyals ($43.47 million) in the first quarter, compared with a 20 million riyal net profit a year earlier. Average analyst expectations were a net loss of 69.39 million riyals.

Mobily attributed its third consecutive quarterly loss to a drop in revenue and higher interest and financial charges."



'via Blog this'