18-01-2017 09:33 via news.yahoo.com

MIDEAST STOCKS-Saudi Electricity slumps, other shares mixed after Q4 results

DUBAI, Jan 18 (Reuters) - Shares in Saudi Electricity Co (SEC) weighed on Saudi Arabia's stock market on Wednesday morning after the company reported a wider net loss for the fourth quarter. Other results had a mixed impact on Saudi stocks. SEC slumped 3.4 percent after posting a quarterly loss of 2.34 billion riyals ($624 million), much worse than NCB Capital's forecast of a loss of 1.04 billion riyals. SEC cited higher energy prices and operating costs. But Alinma Bank added 1. ...
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