Saudi Arabia's bourse may continue rising on Tuesday after strong second-quarter results from local banks, while the release of an opposition politician in Kuwait could reduce political tensions that have weakened the market in the last few days. The main index in Saudi Arabia rose 0.4 percent on Monday and closed at 9,790 points, very close to its intra-day high of 9,795 points. Banks were the main support for the index after Riyad Bank became the first local lender to report its second-quarter results. After trading closed, Banque Saudi Fransi also reported its quarterly profit, which at 884 million riyals was 5 percent above analysts' average estimate.
07-08-2014, 06:43 PM
MIDEAST STOCKS-Saudi Arabia positive, Dubai may consolidate
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