Most Gulf bourses in red; Aramco’s Q3 profit surges – Reuters

Most Gulf bourses in red; Aramco’s Q3 profit surges – Reuters

Oct 31 (Reuters) - Most stock markets in the Gulf ended lower on Sunday, with the Saudi index extending losses for a third session as profit-taking continued after the main index reached multi-year highs.

Saudi Arabia's benchmark index (.TASI) fell 0.5%, weighed down by a 1.7% drop in petrochemical maker Saudi Basic Industries Corp (SABIC) (2010.SE), extending losses for a third session.

On Thursday, SABIC reported a net profit of 5.6 billion riyals ($1.49 billion), up from 1.1 billion riyals in the same period last year, but missed Refinitiv-compiled analysts' consensus estimate of 6.1 billion riyals. read more