Tuesday 20 February 2018

MIDEAST STOCKS-Gulf mostly softens, Commercial International Bank buoys Egypt

MIDEAST STOCKS-Gulf mostly softens, Commercial International Bank buoys Egypt:

"Major Gulf stock markets softened on Tuesday, in line with a small pull-back by global bourses and oil prices, but Egypt was buoyed for a second day by strength in its biggest bank.

The Saudi stock index rose in early trade but closed 0.3 percent down as Saudi British Bank fell 2.2 percent after reporting a 16.3 percent rise in fourth-quarter net profit to 706 million riyals ($188 million), missing analysts’ average forecast of 946.5 million riyals.

Saudi Printing & Packaging gained 1.2 percent after winning a 45.6 million riyal tender from the education ministry to print syllabuses."



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