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Sunday, 30 April 2017

MIDEAST STOCKS-Q1 earnings buoy Saudi petchems, rest of region subdued | Reuters

MIDEAST STOCKS-Q1 earnings buoy Saudi petchems, rest of region subdued | Reuters:

"Higher petrochemical share prices helped lift the Saudi Arabian bourse index on Sunday after strong first-quarter earnings in the sector, but other regional market indexes sagged in thin trade. The Saudi index rose 1.0 percent as Saudi Kayan Petrochemical hit its 10 percent daily price limit after the company reported a net profit of 265.5 million riyals ($70.8 million), having made a loss of 195 million riyals in the same period last year. Analysts at NCB Capital had forecast a profit of 121 million riyals, while Aljazira Capital had expected 69.5 million riyals. "



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