Saudi bourse jumps on earnings; Egypt extends losses – Reuters
- Date: 08-May-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi bourse jumps on earnings; Egypt extends losses – Reuters
May 7 (Reuters) - Saudi Arabia's stock market ended higher on Sunday boosted by a slew of strong earnings, although the Egyptian bourse extended losses.
Saudi Arabia's benchmark index (.TASI) gained 1.2%, buoyed by a 6% jump in Saudi British Bank (1060.SE), its biggest intraday gain since Dec. 2021, following a steep rise in first-quarter earnings.
The lender reported a quarterly net profit of 1.77 billion riyals ($471.99 million) up from 1 billion riyals year ago.
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