Analyst news

• MIDEAST STOCKS-Gulf retreats as oil's fall outweighs Q2 earnings

  24-07-2016 16:40
  * 80 percent of Saudi shares fall
  * PetroRabigh slumps on Q2 profit slide
  * But Saudi Kayan jumps on surprise Q2 profit
  * Dubai’s Emaar pulls back from technical resistance
  * Egyptian gainers might benefit from FX devaluation
  By Celine Aswad
  DUBAI, July 24 (Reuters) – Gulf stock markets declined on Sunday as sharp falls in oil prices late last week outweighed a few positive corporate earnings in Saudi Arabia.
  In Egypt, investors bought shares that could benefit from any currency deva
  
  Read more

• UPDATE 1-Randgold lowers Ivory Coast output forecast on power cuts

  24-07-2016 14:53
  
  ABIDJAN, July 24 (Reuters) - Randgold Resources'Tongon mine in Ivory Coast will have a slightly lower gold
  output this year than previously expected mainly owing to an
  erratic power supply, Chief...
  
  Read more

• Ex-Wall Street banker accused of insider tips to father faces trial

  24-07-2016 13:09 via news.yahoo.com
  
  Federal prosecutors in Manhattan are set to face off with a former Wall Street investment banker in their first insider trading trial since a U.S. appeals court curtailed their ability to pursue such cases. Jury selection is expected to begin on Monday in the case of Sean Stewart, an ex-banker at Perella Weinberg Partners and JPMorgan Chase & Co accused of supplying inside information to his father about unannounced healthcare mergers. Prosecutors say accountant Robert Stewart, the father, a
  
  Read more

• MIDEAST STOCKS-Gulf bourses soft as oil's fall outweighs Q2 earnings

  24-07-2016 10:44 via news.yahoo.com
  DUBAI, July 24 (Reuters) - Gulf stock markets were soft in early trade on Sunday as weaker oil prices at the end of last week outweighed a few positive corporate earnings in Saudi Arabia. Riyadh's stock index edged down 0.2 percent in the first hour. Saudi Kayan Petrochemical climbed 2.1 percent after it swung to a net profit in the second quarter of 91.02 million riyals ($24.3 million), ending a run of five straight quarterly losses and beating analysts' forecast for another loss. Alinma Bank r
  
  Read more

• Advertisement

• BUZZ-Shares of two Saudi SABIC units diverge after Q2 earnings

  24-07-2016 09:14 via news.yahoo.com
  July 24 (Reuters) - ** Shares in two Saudi Basic Industries Corp units diverge: Saudi Kayan Petrochemical rises 3.6 percent to 7.25 riyals, Saudi Arabian Fertilizers Co (SAFCO) falls 0.4 percent to 59.25 riyals ** Kayan swung to net profit in second quarter of 91.02 million riyals ($24. ...
  
  Read more

• MIDEAST STOCKS-Saudi Kayan Q2 bullish but oil price weak

  24-07-2016 07:58 via news.yahoo.com
  DUBAI, July 24 (Reuters) - Saudi Arabia's stock market may be buoyed by strong earnings from a petrochemical company on Sunday but weak oil prices look set to limit gains, while most other Saudi earnings were in line with expectations. Saudi Kayan Petrochemical swung to a net profit in the second quarter, ending a run of five straight losses. It made a net profit of 91.02 million riyals ($24.27 million); the average estimate of three analysts polled by Reuters had been for a quarterly loss of 18
  
  Read more

• Pressure Back on EUR/USD as Market Sees Looser ECB, Tighter Fed

  24-07-2016 04:30
  Rates markets are starting to shift in favor of another ECB rate cut by the end of the year, while pricing for a Fed rate hike has jumped forward more than six months over the past two weeks. This all adds up to an environment tilting more bearish for EUR/USD in the short-term.
  
  Read more

Follow @news_analyst on Twitter!