MIDEAST STOCKS-Most Gulf markets fall, weak earnings hit Saudi - Reuters:
Most major Gulf indexes opened lower on Wednesday, with Saudi hurt by a slew of weak earnings, while Qatar extended losses for a fifth straight session.
In Saudi Arabia, the benchmark index dropped 0.3% with National Commercial Bank dropping 0.8% and Al Rajhi Bank losing 0.3%.
Sahara International Petrochemical (Sipchem) also slid 3.2% after it reported a more than 38% plunge in third-quarter net profit. The petrochemical maker said it was due to a decrease in selling prices for most of the products.
Saudi Arabia Mining Co declined 1.2% after it posted a third-quarter net loss of 92 million riyals, compared with a profit of 415 million riyals a year earlier.
Most major Gulf indexes opened lower on Wednesday, with Saudi hurt by a slew of weak earnings, while Qatar extended losses for a fifth straight session.
In Saudi Arabia, the benchmark index dropped 0.3% with National Commercial Bank dropping 0.8% and Al Rajhi Bank losing 0.3%.
Sahara International Petrochemical (Sipchem) also slid 3.2% after it reported a more than 38% plunge in third-quarter net profit. The petrochemical maker said it was due to a decrease in selling prices for most of the products.
Saudi Arabia Mining Co declined 1.2% after it posted a third-quarter net loss of 92 million riyals, compared with a profit of 415 million riyals a year earlier.
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