Saudi bourse jumps on earnings; Egypt extends losses

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Saudi Arabia's stock market ended higher on Sunday boosted by a slew of strong earnings, although the Egyptian bourse extended losses.

The lender reported a quarterly net profit of 1.77 billion riyals up from 1 billion riyals year ago.

Oil prices - a key catalyst for the Gulf's financial markets - jumped on Friday on signs of economic strength, but registered their third weekly decline in a row.year-on-year in the first quarter of 2023, according to initial government estimates of real gross domestic product published on Sunday.

 

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