Mideast Stocks: Major Gulf markets gain on oil recovery, strong earnings – ZAWYA

Mideast Stocks: Major Gulf markets gain on oil recovery, strong earnings – ZAWYA

Saudi Arabia's benchmark index traded 1.5% higher, with Al Rajhi Bank rising 1.2% and petrochemical firm Saudi Basic Industries was up 2.3%.. The Qatari index rose 0.7%, with Qatar National Bank adding 1.4%, whereas Qatar Gas Transport Company leapt 4.6%.. The energy shipping and transport firm on Monday posted net profit of 279.2 million riyals ($76.70 million) for the first-quarter of 2020, up from 235.9 million riyals in the same quarter a year ago.. Among other stocks, Doha Bank jumped 5.5% and Vodafone Qatar advanced 4.6% after the duo reported higher quarterly net profits..