* Saudi's Alinma Bank sinks after Q3 misses estimates

* BUPA Arabia, Najran Cement also hit by earnings

* GFH Financial, Drake & Scull buck Dubai's fall

* QNB makes Qatar the only Gulf market to rise

* Beltone suspended, then resumes trade in Egypt

By Andrew Torchia

DUBAI, Oct 17 (Reuters) - Saudi Arabia's stock market fell on Monday after another set of disappointing third-quarter earnings, while other markets in the region were also weak, in line with the global trend.

The Saudi index .TASI slipped 1.2 percent as Alinma Bank 1150.SE , the most heavily traded stock, dropped 2.9 percent.

Alinma was the latest in a string of Saudi banks to report weak quarterly earnings as the slow economy increases impairment charges on loans; it posted a 16.8 percent fall in third-quarter net profit to 312 million riyals ($83.2 million). Analysts had on average forecast 409.1 million riyals.

Medical insurer BUPA Arabia 8210.SE , which had dropped 4.7 percent on Sunday after posting an 8.9 percent drop in its third-quarter net income, fell a further 2.9 percent. Najran Cement 3002.SE lost 3.1 percent after reporting a 52 percent year-on-year drop in third-quarter net profit.

Petrochemicals generally outperformed, with top producer Saudi Basic Industries 2010.SE , which is expected to report quarterly earnings in the next few days, dropping only 0.6 percent.

Saudi Company for Hardware 4008.SE was one of the few gainers, rising 2.3 percent after reporting a 10.1 percent rise in quarterly net profit.

Dubai's stock index .DFMGI fell 0.9 percent in a broad-based decline, although the two most heavily traded stocks, GFH Financial GFH.DU and builder Drake & Scull DSI.DU , rose 3.9 percent and 1.1 percent.

Abu Dhabi's index .ADI sank 2.2 percent because of a steep decline by First Gulf Bank FGB.AD , which lost 4.9 percent. Kuwait's top bank was also weak; National Bank of Kuwait NBKK.KW lost 1.7 percent after reporting a 6.4 percent rise in third-quarter net profit that was in line with estimates.

The only Gulf market to gain was Qatar .QSI , which rose 0.6 percent on the back of Qatar National Bank's QNBK.QA 1.5 percent gain. The bank reported a 10 percent rise in third-quarter profit last week.

Egypt's index .EGX30 lost 2.2 percent as investment bank EFG Hermes HRHO.CA pulled back 2.9 percent.

Shares in Beltone Financial BFH.CA were briefly suspended and then resumed trading after the stock's fair value was mis-stated in a report given to the financial regulator on Sunday. They last traded at 10.71 pounds, level with Sunday's

The stock has been dogged by controversy. In August, Egypt's regulator requested that Beltone appoint a third party to assess the fair market value of its stock after it jumped more than 550 percent. In June, Beltone filed a lawsuit against the heads of the Cairo stock exchange and the financial regulator over the repeated cancellation of trades in its stock urn:newsml:reuters.com:*:nL8N1CN39S .



* The index .TASI dropped 1.2 percent to 5,565 points.


* The index .DFMGI fell 0.9 percent to 3,272 points.


* The index .ADI sank 2.2 percent to 4,220 points.


* The index .QSI rose 0.6 percent to 10,426 points.


* The index .EGX30 lost 2.2 percent to 8,243 points.


* The index .KWSE fell 0.4 percent to 5,287 points.


* The index .MSI dropped 1.2 percent to 5,581 points.


* The index .BAX slipped 0.3 percent to 1,138 points. (Editing by Larry King) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))