Markets

Middle East Shares Narrowly Mixed As Investors Watch Earnings

MidEast stocks were narrowly mixed, with earnings in focus.

Al Othaim Markets said Q2 net income was 71.21 million, above forecasts from NCB Capital for net income of 66 million and EFG Hermes for 57.74 million riyals.

Al Hammadi said it was discussing studying a possible merger with National Medical Care.

Saudi Ground Services reported a 37.6% drop in Q2 net income to 122.3 million riyals.

Aldar Properties said Q2 net profit fell 5.6% to to 620 million dirhams ($169 million), broadly in line with expectations.

Global Telecom said Q2 profit was $35 million, up about a third from the year before but below expectations from Naeem Brokerage.

Saudi Arabia's main index edged up 0.07% to 7,086 points, Dubai firmed 0.4% to 3,675 points, Abu Dhabi slipped 0.3% to 4,596 points, Qatar gained 0.4% to 9,398 points, Egypt edged up 0.06% to 13,413 points, Kuwait inched up 0.03% to 6,826 points, Bahrain eased 0.3% to 1,323 points and Oman shed 0.3% to 5,066 points.

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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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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