MIDEAST STOCK MAR­KETS

Kuwait Times - - BUSINESS -

pub­lished yes­ter­day, found 36 per­cent ex­pect to in­crease their al­lo­ca­tions to Saudi eq­ui­ties over the next three months, and 14 per­cent to re­duce them. That is the most bullish bal­ance for Saudi Ara­bia since July, and com­pares to ra­tios of 14 per­cent and 29 per­cent in Septem­ber’s sur­vey.

Else­where, Dubai’s in­dex rose 0.4 per­cent as Emaar Prop­er­ties climbed 0.9 per­cent. But courier Aramex dropped 3.8 per­cent af­ter its third-quar­ter earn­ings came in at the low end of ex­pec­ta­tions. Aramex re­ported a 3 per­cent fall in profit to 72.2 mil­lion dirhams ($19.7 mil­lion). EFG Her­mes and SICO Bahrain had fore­cast 75.8 mil­lion dirhams and 77.1 mil­lion dirhams. Abu Dhabi’s in­dex added 0.3 per­cent on the back of the two big­gest banks, which plan to merge early next year. Na­tional Bank of Abu Dhabi climbed 2.3 per­cent and First Gulf Bank 1.8 per­cent.

Qatar gained 0.3 per­cent. Telecommu nica­tions op­er­a­tor Oore­doo closed 3.1 per­cent higher af­ter ini­tially fall­ing when it re­ported a 51 per­cent drop in third-quar­ter net profit to 370 mil­lion riyals ($101.6 mil­lion); the av­er­age fore­cast of an­a­lysts polled by

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