MIDEAST STOCKS-Saudi profits from corporate earnings, Qatar extends losses - Reuters:
Saudi Arabia’s stock market rose on Tuesday, buoyed by corporate earnings, while Qatar’s index was dragged down by its blue chips for a fourth consecutive session.
The Saudi benchmark index added 0.6%. Al Rajhi Bank gained 1.3%, and Alinma Bank jumped 4.2% after it reported a rise in third-quarter profit to 713 million riyals ($190.1 million) compared to 637 million a year earlier.
National Shipping Co of Saudi Arabia gained 2.8%. On Monday, the firm posted a more than 80% surge in third-quarter net profit, which it attributed to higher returns from operating segments powered by growth in logistics services.
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