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Most rose on Tuesday, led by Qatar, whose stock market index has reached its highest level in more than five months, on solid financial results forecasts, while the share increase Petrochemicals in Saudi Arabia
The gains were boosted by the rise in the shares of Qatar National Bank 2.2%, and Qatar Industries 2.1%.
QNB Services In a note that banks, which cover them, will see an annual increase of 18.4% in profits in the second quarter,
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Commercialbank, the third largest bank in Qatar by badets, recorded a 58.4% decline in net profit for the second quarter of 2017, while the projections exclude Qatar National Bank which will announce its financial results tomorrow.
For the results of companies in other sectors outside the banking sector, the brokerage firm expects a jump of 30.1% in annual profits in the second quarter.
QNB badysts say in the note, "Valuations are attractive relative to the price multiplier for expected earnings in the region, and the dividends are still high
The main index of the Saudi Arabia rose 1.1% as petrochemicals recovered due to higher oil prices, while Saudi Kayan Petrochemical Co. gained 1% to 16.88 riyals
. This week's report raised the target price of Qian in 12 months to 18.5 riyals against 16.9 riyals, based on high estimates to account for rising commodity prices and commodity costs. [19659006] Saudi Basic Industries Corporation (SABIC) increased by 1% Financial institutions' shares also increased, with Samba Financial Group up 3.5% and Bank Albar
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Solid quarterly financial results from NBK have contributed upward of the Kuwaiti market index and boosted the earnings of other financial institutions
The National Bank of Kuwait has recorded a 16% increase from the year compared to a year earlier, this which pushed its stock up by 0.6%. Kuwait Finance House rose 1.5% and Gulf Bank by 1.7%
The Abu Dhabi benchmark rose by 1.1%, boosted by gains in real estate shares and financial. Aldar Properties grew by 2.4% and Abu Dhabi First Bank by 1.6%. In contrast, the Muscat Securities Market index fell 0.42% to 4498 points, with the financial sector falling 0.65% and the industrial sector 0.49% and the service 0.47%. The Jordan Stock Exchange fell 0.11% to 2,050 points, industry and services sectors falling 0.62% and 0.18%, respectively, compared to the rise in the financial sector [19659013] .appendChild (js);} (document));
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