MIDEAST STOCKS-Big Qatar banks diverge on Q4 earnings in mixed Gulf:
"Gulf stock markets were mixed on Wednesday with Masraf Al Rayan, Qatar’s second-largest bank by market value, pulling the Qatari stock index 0.2 percent lower.
Shares in Masraf Al Rayan sank 2.7 percent after the bank reported a 9.6 percent drop in fourth-quarter net profit to 466 million riyals, below an average 562.5 million riyal forecast by three analysts polled by Reuters.
Qatar National Bank also missed forecasts with a 5.2 percent rise in fourth-quarter net profit to 2.85 billion riyals ($783 million). But the Gulf’s largest lender raised its cash dividend for 2017 to 6 riyals per share and its stock was up 0.7 percent."
'via Blog this'
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