MIDEAST STOCKS-Disappointing earnings hit UAE, Egypt; Saudi soft | Reuters:
"Disappointing quarterly earnings among big banks pulled down stock markets in the United Arab Emirates on Thursday, while Orascom Telecom posted a big net loss that weighed on Egypt's bourse.
Abu Dhabi's index lost 1.0 percent. Abu Dhabi Commercial Bank nosedived 7.7 percent after it reported first-quarter net profit of 1.02 billion dirhams ($277.7 million), missing analysts' forecasts.
It attributed the 18.2 percent fall to a dip in income from core business and increased bad loan provisions."
'via Blog this'
No comments:
Post a Comment