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Friday, 12 May 2017

MIDEAST STOCKS-Oil price lifts some Gulf stocks, mixed earnings hit Saudi index | Reuters

MIDEAST STOCKS-Oil price lifts some Gulf stocks, mixed earnings hit Saudi index | Reuters:

"Rising oil prices lifted energy company stocks in the Gulf on Thursday, but indices were mixed due to some negative earnings reports, especially in Saudi Arabia.

The Riyadh index lost 0.7 percent.

Savola Group, the kingdom’s largest food products company, reported a 96 percent drop in first-quarter net profit, sending its shares down 2.4 percent."



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