MIDEAST STOCKS-Banks drag down Saudi, Qatar stock markets | Reuters:
Banking shares slipped in Saudi Arabia and Qatar on Wednesday as investors digested a mixed bag of results.
Banque Saudi Fransi, which reported lower second quarter earnings on Tuesday, was down 4.1 percent. The lender disclosed a profit of 921 million riyals ($246 million) in the three months to June 30, down from 1.01 billion riyals in the same period of 2017.
National Commercial Bank lost 0.6 percent, even after the kingdom’s largest lender on Tuesday reported a 6.7 percent rise in second-quarter profit to 2.58 billion riyals.
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