MIDEAST STOCKS-Poor earnings lead major Gulf markets lower - Reuters

MIDEAST STOCKS-Poor earnings lead major Gulf markets lower - Reuters:

Major Gulf markets dropped on Monday as a string of disappointing corporate earnings hurt the investor sentiment in the region, with Saudi Arabia underperforming other bourses amid falling banking shares.

Saudi’s index was down 0.7% as all its lenders slipped into negative territory with Al Rajhi Bank dropping 1.7% in the biggest drag on the index.

Dallah Healthcare was down 3.8% after its second-quarter profit fell, hurt by increased operating and financing costs.