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Thursday, 13 April 2017

MIDEAST STOCKS-Profit taking main drag as company Q1 result optimism fades | Reuters

MIDEAST STOCKS-Profit taking main drag as company Q1 result optimism fades | Reuters:

"Profit taking dragged most stock markets in the Middle East lower on Thursday, erasing most of the previous session's gains as some of the optimism generated by generally positive first quarter results faded. Saudi Arabia's index retreated 0.3 percent, after rising 0.9 percent on Wednesday when Saudi British Bank reported an earnings beat and banking shares rose. The optimism failed to keep markets afloat even though another lender, Banque Saudi Fransi, reported first-quarter results that exceeded estimates after Wednesday's market close."



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