FRANKFURT, Germany (AP) ? Volkswagen raised its earnings outlook Thursday after bouncing back to a profit of 2.34 billion euros ($2.55 billion) in the third quarter from a large loss a year earlier, when it took a big charge from its car emissions scandal.
DUBAI, Oct 27 (Reuters) - Banking shares that had been beaten down earlier this month by fears of slowing global economic growth headed for a seventh day of gains on Thursday, boosting Gulf stock markets despite weakness in Asian bourses and oil prices. The Saudi bank sector has been strong since last week's big international bond sale by the government partially eased fears about a liquidity drought in the economy, and on Thursday morning the sector index was up 1.4 percent. This helped the overall Saudi stock market index climb 0.8 percent. ...
By Lauren Hirsch NEW YORK (Reuters) - Chinese package delivery company ZTO Express said it raised $1.4 billion in the biggest U.S. initial public offering of the year on Wednesday as its backers cashed in on China's booming online-shopping industry. The stock market debut, the biggest by a Chinese company since the $25 billion IPO of e-commerce giant Alibaba Group Holding Ltd in 2014, gave the Shanghai-based company a market value of more than $12 billion. ZTO's U.S. listing is a head start over rivals in the world's largest express delivery market because it gives the company faster access to cash to expand.
By Dasha Afanasieva and Rachel Armstrong LONDON (Reuters) - Software company Misys has abandoned plans to list on the London stock market, blaming shaky market conditions and adding to a run of aborted flotations in recent weeks. Misys is the largest of a series of initial public offerings (IPOs) to be pulled or postponed in Europe amid investor caution about pricing and the outlook for markets. The company said earlier this month it had hoped to raise around 500 million pounds from its IPO and had been working on signing up investors for more than a week.
LONDON (AP) ? Barclays says earnings from its core operations fell 73 percent in the third quarter as it took a 320 million-pound ($392 million) charge for bad debts in its U.S. and U.K. credit card businesses.
** Shares in Qatar's Gulf International Services drop 3.6 percent to 32.50 riyals ** Company reported 87 percent fall in third-quarter net profit to 28.3 million riyals ($7.8 million); QNB Financial Services had forecast 78.2 million riyals ** Major technical support on April and May lows of 32.45-32.60 riyals ** Qatar stock index rises 0.3 percent (Reporting by Andrew Torchia)