UPDATE 2-MIDEAST STOCKS-Gulf markets slow advance; Egypt keeps rising | Reuters

UPDATE 2-MIDEAST STOCKS-Gulf markets slow advance; Egypt keeps rising | Reuters:



"Gulf stock markets were neutral to slightly positive on Wednesday, although negative news and earnings reports dragged down some individual stocks. Egypt's bourse posted strong gains for a third day in a row.



Saudi Arabia's index added 0.3 percent, partly because of a rebound in beaten-down petrochemicals. Shares in Yanbu National Petrochemical Co (Yansab) jumped 2.1 percent after it reported a 39.7 percent rise in fourth-quarter net profit. 




Yansab, a unit of Saudi Basic Industries, which climbed 1.0 percent, made a net profit of 617.8 million riyals ($164.6 million) in the three months to Dec. 31 while analysts polled by Reuters had on average forecast 558.3 million riyals."



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