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Tuesday, 1 August 2017

MIDEAST STOCKS-Saudi snaps losing streak as Qatar rocked by GIS's poor results

MIDEAST STOCKS-Saudi snaps losing streak as Qatar rocked by GIS's poor results:

"Saudi Arabian shares snapped a six-session losing streak on Tuesday while Qatar's market fell, hit by a slump in an oil drilling service provider after it barely broke even in the second quarter. Gulf International Services lost 8.0 percent after posting net profit of 700,000 Qatari riyals, according to Reuters' calculations, well below QNB Financial Services' estimate of 47.51 million Qatari riyals. In a statement, GIS cited "significant revenue reduction in drilling, catering and insurance segments.""



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