MIDEAST STOCKS-Most major Gulf stocks rise in early trade; #Qatar slips - Reuters

MIDEAST STOCKS-Most major Gulf stocks rise in early trade; Qatar slips - Reuters:

Most major stocks markets in the Gulf rose in early trade on Monday, largely on the back of their financials, while Qatar’s index was hurt by first-half losses posted by Qatar Insurance Company.

Saudi Arabia’s benchmark index edged up 0.1%, helped by a 0.7% rise in Dr Sulaiman Al-Habib Medical Services , while National Commercial Bank was up 0.4%, despite recording a lower second-quarter profit. 


But Banque Saudi Fransi declined 1% as the lender reported a fall in second-quarter net-profit.

The Qatari index lost 0.2%, driven down by a 4.3% slide in Qatar Insurance.

The insurer posted a net loss of 207.8 million riyals ($57.08 million) in the first-half, compared to a profit of 409.9 million riyals year ago.