MIDEAST STOCKS-Saudi outperforms but insurer MedGulf hit by regulator warning:
"The banking sector helped the Saudi Arabian stock index outperform the region in early trade on Wednesday, but shares of a Saudi insurer were knocked lower after the financial regulator issued it with a warning. The Riyadh index was up 0.4 percent after 45 minutes of trade with the main support coming from the banking sector; National Commercial Bank was up 0.8 percent. Analysts at Al Rajhi Capital estimate the sector’s profits rose mildly in the third quarter because of higher net interest margins and broadly flat bad loan provisions. Saudi firms are expected to release quarterly results late this month."
'via Blog this'
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