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Australia shares lower, banks lead declines

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MIDEAST STOCKS-Oil shares knock Saudi, Qatar bolstered by banks

MIDEAST STOCKS-Oil shares knock Saudi, Qatar bolstered by banks*/

– AdvertisementDUBAI, Jan 17 (Reuters) – Weakness among petrochemical producers sent Saudi Arabia stocks lower on Tuesday while Qatar was buoyed by its banking sector.Saudi Arabia’s index edged down 0.2 percent in the first 25 minutes of trade after dropping 1.6 percent on Monday.Saudi Industrial Investment Group fell 3.2 percent.Dallah Healthcare slipped 0.3 after the company reported a 4.8 percent drop in fourth-quarter net income, citing higher amortisation charges and higher marketing expenses.Saudi Cement added 0.4 percent after reporting a quarterly net profit of 187 million riyals ($49.9 million), up from 176 million riyals a year ago but below the average forecast of five analysts of 199.2 million riyals.Real estate developer Jabal Omar Development rose 0.4 percent after swinging to a net profit of 79.3 million.It cited higher sales of residential units and an increase in revenue from its hospitality segment.Qatar’s Islamic bank Masraf Al Rayan jumped 3.0 percent to 40.10 riyals after reporting an 8 percent drop in fourth-quarter net profit to 515.0 million riyals ($141.5 million), mid-way between EFG Hermes’ forecast of 478.4 million riyals and QNB Financial Services at 549.7 million riyals.The lender’s board recommended a dividend for 2016 of 2 riyals per share, above the 1.75 riyals paid in 2015.
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MIDEAST STOCKS-Oil shares knock Saudi, Qatar bolstered by banks

MIDEAST STOCKS-Oil shares knock Saudi, Qatar bolstered by banks*/

– DUBAI Jan 17 Weakness among petrochemical producers sent Saudi Arabia stocks lower on Tuesday while Qatar was buoyed by its banking sector.Saudi Arabia’s index edged down 0.2 percent in the first 25 minutes of trade after dropping 1.6 percent on Monday.Saudi Industrial Investment Group fell 3.2 percent.
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Australia shares lower, banks lead declines

Australia shares lower, banks lead declines*/

– Jan 17 Australian shares fell on Tuesday with banks leading declines, while energy shares also weakened despite global oil prices steadying the previous day.The S&P/ASX 200 index declined 0.8 percent, or 46.541 points, to 5,701.9 by 0048 GMT.”There’s across the board selling, albeit, volumes are very light at this stage.
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