MIDEAST STOCKS-Regional markets surge after U.S.-Russian deal on Syria: Thomson Reuters Business News - MSN Money:
"* Saudi rises 1.8 pct, breaks minor chart barrier
* Dubai has now recovered most losses due to Syria
* Union Properties leaps to fresh multi-year high
* Cross-listing plan boosts Eshraq Properties in Abu Dhabi
* Egypt's Citadel Capital hit by capital-raising plan
By Nadia Saleem
DUBAI, Sept 15 (Reuters) - Regional markets rose sharply on Sunday after the U.S.-Russian deal on removing Syria's chemical weapons appeared to avert, at least for coming weeks or months, a U.S. military strike against Damascus.
The Saudi benchmark climbed 1.8 percent to 8,034 points, its fifth gain in the last six sessions since it dropped to a two-month low on fears of a possible U.S. attack on Syria.
Gains were spread across sectors and the index broke minor technical resistance at 8,004 points, its early September high; stronger resistance lies on August's multi-year peak of 8,223.
"The market reaction to Syria was overdone and fundamentals are reasserting themselves now as the situation eases," said Alhassan Goussous, chief executive officer at Bakheet Investment Group."
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