MidEast Stocks Mixed, Egypt Rises on Earnings

By MidnightTrader.com Staff,

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Middle East stocks were mixed, but Egypt gained after strong earnings from Commercial International Bank.

Commercial International Bank posted a 29% rise in quarterly net profit to EGP 757m ($109m).

However, UAE shares slipped after Aldar Properties disappointed some investors despite reporting higher net profit.

Dubai's index fell 0.4%, ending a seven-session upward streak. Qatar rose 0.8% and Oman firmed 0.2%. Saudi Arabia's index rose 0.6%. Abu Dhabi slipped 0.1% and Egypt gained 1% to 7,571.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
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