MIDEAST STOCKS-Saudi shares slip on profit-taking, Gulf mixed | Reuters:
"Shares in Saudi Arabia fell in early trade on Sunday because of profit-taking despite more first-quarter earnings beats from major companies, while bourses elsewhere in the Gulf were mixed.
Saudi Arabia's stock index, which rose 4.0 percent last week, shed 0.9 percent in the first 75 minutes of trade.
Saudi banks' first quarter results continued to surprise to the upside, with the largest lender by market value, Al Rajhi Bank, posting a first-quarter net profit of 2.02 billion riyals ($538.7 million), a 32.8 percent jump, as it cut wage costs and fee income increased.
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