MIDEAST STOCKS-Petrochemicals, banks support Saudi; Emaar weighs on Dubai:
"Banks and an earnings beat by Saudi Basic Industries Corp (SABIC) boosted Saudi Arabia’s stock market early on Monday while Emaar Properties held back Dubai’s main index.
The Saudi stock index climbed 0.3 percent in the first hour. SABIC, the biggest petrochemical producer, gained 0.9 percent after reporting a 10.7 percent rise in third-quarter net profit on Sunday, beating analysts’ forecasts by a third.
Elsewhere in the sector, Arabian Pipes was up 5.1 percent and Saudi Kayan rose 0.6 percent in heavy trade. However, PetroRabigh fell 0.6 percent."
'via Blog this'
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