MIDEAST STOCKS-Gulf rises after strong earnings, foreigners buy Egypt | Reuters:
"Gulf stock markets rose on Thursday after strong corporate earnings in Saudi Arabia and Oman, while Egypt climbed moderately as foreign investors accumulated shares.
Saudi companies tend to announce first-quarter earnings slightly earlier than firms elsewhere in the Gulf, and some positive surprises suggest the damage to the region caused by low oil prices may not be quite as bad as feared.
Petrochemical firm Yanbu (Yansab) jumped 1.2 percent after it reported a 41-percent rise in net profit to 402 million riyals ($107 million), far exceeding analyst forecasts."
'via Blog this'
No comments:
Post a Comment