MIDEAST STOCKS-Banks boost Saudi on Riyad earnings, Dubai's DSI jumps:
"Banks led the Saudi Arabian stock market higher on Thursday after Riyad Bank reported better-than-expected earnings for the third quarter, while builder Drake & Scull jumped in Dubai.
Riyad Bank gained 6.2 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. Eleven of 12 listed Saudi banks rose on Thursday."
'via Blog this'
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