MIDEAST STOCKS-Gulf rises as Saudi Q1 earnings please, oil holds up | Reuters:
"Most Gulf stock markets rose early on Tuesday as several Saudi Arabian companies beat first-quarter earnings estimates and oil prices held up better than feared after the failure of Sunday's Doha meeting of producers to agree on an output freeze.
The Saudi stock index climbed 1.1 percent as Saudi Basic Industries, the biggest petrochemical producer, gained 1.7 percent. It reported a 13.2 percent drop in net profit to 3.41 billion riyals ($909.4 million); analysts had on average forecast 2.84 billion riyals.
Sipchem gained 1.4 percent after posting a 37.1 percent drop in profit to 50.7 million riyals. Analysts had forecast 37.42 million riyals."
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