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Industries Qatar jumps on plan for LNG output expansion


Saudi Arabia s benchmark index rose for a fifth straight session
A trader tracks shares on a monitor at the Doha Stock Exchange. Qatar Exchange rose 0.8 per cent to 10,529 points returning to gains for the year.
Image Credit: Reuters
Dubai: Saudi Arabia s benchmark index rose for a fifth straight session coinciding with the rally in oil now trading beyond $61 a barrel. Other Gulf stocks demonstrated a mixed performance on a busy day for corporate earnings.
Saudi stocks inched up 0.1 per cent to 8,902 points. National Commercial Bank surged 3.7 per cent to SR45. The lender navigated a difficult year with relative success as it reported SR11.44 billion in full-year net profit, a slight increase from SR11.40 billion for a year before. The forecast-beating profits come as higher operating income was offset by higher operating expenses and as its net impairment charges for expected credit losses reached SR1.95 billion, a rise of 37 per ce ....

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