Saudi Electricity Co soared 8.0 percent after its third-quarter net profit jumped 50.8 percent to 4.40 billion riyals ($1.17 billion). Saudi Telecom Co rose 3.3 percent after reporting profit of 2.15 billion riyals, down 7.5 percent year-on-year but in line with forecasts. Retailer Fawaz Alhokair dropped 5.2 percent on an 81.1 percent slump in quarterly earnings to 58.7 million riyals. EFG Hermes had forecast quarterly profit of 244.13 million riyals, while NCB Capital had estimated 269 million riyals. Commercial Bank, which reported a net loss earlier this week, slipped a further 1.3 percent.

Source: Egypt Independent October 20, 2016 09:00 UTC