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Monday, 7 August 2017

MIDEAST STOCKS-Saudi market gains, but Samba drops on Q2 results

MIDEAST STOCKS-Saudi market gains, but Samba drops on Q2 results:

"Saudi stocks edged up in early trade, with gains kept in check by sharp declines in the local market's third largest bank after it reported a slight dip in second quarter profit. Samba Financial Group dropped 2.7 percent after it reported net profit of 1.27 billion riyals ($339 million), broadly in line with analysts' forecasts and down 3.3 percent year on year. Its shares had jumped 3.4 percent on Sunday after its board recommended a cash dividend of 0.75 riyals for the first half of the year, two-thirds more than the 2016 interim payout."



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