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Tuesday, 9 May 2017

MIDEAST STOCKS-Region stalls as oil stays below $50, earnings lift some shares | Reuters

MIDEAST STOCKS-Region stalls as oil stays below $50, earnings lift some shares | Reuters:

"Shares of companies that beat quarterly earnings estimates outperformed on Tuesday as Gulf markets were held in check by crude oil trading below $50 a barrel for a third session. Shares of Saudi Arabian electronics and bookstore retailer Jarir were up 5.8 percent to 141.0 riyals after it reported a 26.5 percent rise in first quarter net profit, beating analysts' forecasts. The company's board also recommended distributing 2.2 riyals per share for the period, higher than the 1.75 riyals it paid out in the prior year period."



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