MIDEAST STOCKS-Most major Gulf markets slip though #Qatar edges up on banks - Agricultural Commodities - Reuters

MIDEAST STOCKS-Most major Gulf markets slip though Qatar edges up on banks - Agricultural Commodities - Reuters:

Most major Gulf stock markets fell on Thursday, with Saudi Arabia leading the way on declines in corporate earnings, though Qatar bucked the trend as banks rose.

In Saudi Arabia, the benchmark index was down 0.5%, with Al Rajhi Bank declining 0.7% and Jabal Omar Development sliding 2.9%, making it the biggest in the index.

The developer posted a net loss of 80.6 million riyals ($21.5 million) on Wednesday compared with a profit of 469.6 million a year earlier. The firm blamed the losses on lower revenue from sales of residential units.

Advanced Petrochemical fell 1.1%. It reported a rise in third-quarter net profit of more than 5% but revenue dropped over 13%.