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Monday, 24 July 2017

MIDEAST STOCKS-Banks pull Qatar higher, big Mobily loss weighs on Saudi

MIDEAST STOCKS-Banks pull Qatar higher, big Mobily loss weighs on Saudi:

"Banks pulled Qatar's stock market higher in early trade on Monday while Saudi Arabia's market edged down after a string of second-quarter earnings, with telecommunications firm Mobily plunging on a bigger-than-expected loss.

The Qatari index added 0.4 percent as Qatar National Bank climbed 1.0 percent and Masraf Al Rayan rose 0.8 percent. Qatar International Islamic Bank gained 1.4 percent after reporting a modest year-on-year rise in first-half net profit.

Islamic insurer AlKhaleej Group surged 2.8 percent in unusually heavy trade."



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