Thursday 9 July 2015

MIDEAST STOCKS-Gulf firm, QNB lifts Qatar after Q2 earnings | Reuters

MIDEAST STOCKS-Gulf firm, QNB lifts Qatar after Q2 earnings | Reuters:



"Gulf stock markets were firm in early trade on Thursday after global equity and oil market conditions improved, while Qatar National Bank rose after its second-quarter earnings, buoying its home bourse.



QNB's shares rose 0.9 percent after the bank, the largest lender in the Gulf Arab region, posted a 10 percent rise in quarterly net profit to 2.91 billion riyals ($800 million); analysts polled by Reuters had on average forecast 2.81 billion riyals. 




This boosted Qatar's stock index by 0.3 percent. Petrochemical producer Industries Qatar, which had dropped 2.2 percent on Wednesday as oil prices sank, rebounded 0.7 percent along with stronger oil."



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