MIDEAST STOCKS-Poor Q1 results weighs on Qatar, Dubai; oil drags Saudi petchems | Reuters

MIDEAST STOCKS-Poor Q1 results weighs on Qatar, Dubai; oil drags Saudi petchems | Reuters:

"Two Qatari blue chip shares weighed on the local index in early trade on Tuesday after reporting a disappointing set of quarterly earnings, while Dubai was dragged lower by telecommunications operator Du. Qatari Islamic lender Masraf Al Rayan lost 0.5 percent after reporting a 6.5 percent year-on-year fall in its first-quarter net profit to 510 million Qatar riyals ($140.1 million) and below the average of three analysts' estimate of 517.1 million riyals.# Commodities shipper Qatar Navigation was down 1.0 percent after it made a net profit of 236 million Qatar riyals ($64.81 million) in the three months to March 31, down 33 percent from the prior year period and below the 369.2 million riyals analysts at QNB Financial Services had estimated."



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