MIDEAST STOCKS-Banks boost Saudi after Riyad Q3 beat, Dubai's DSI surges:
"Banks led the Saudi Arabian stock market up early on Thursday after Riyad Bank beat expectations for its earnings, while builder Drake & Scull jumped in Dubai.
Riyad Bank gained 4.0 percent after reporting a 47.7 percent year-on-year rise in third-quarter net profit to 1.08 billion riyals ($288 million); analysts polled by Reuters had on average forecast 852.5 million riyals.
It was one of the first Saudi banks to report quarterly earnings - Alinma Bank beat analysts’ estimates slightly on Sunday - so the news buoyed the sector in general. All eight listed Saudi banks that traded early on Thursday were higher."
'via Blog this'
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