Thursday 10 December 2015

MIDEAST STOCKS-Risk-averse traders push Gulf mkts lower; Egypt stabilises | Reuters

MIDEAST STOCKS-Risk-averse traders push Gulf mkts lower; Egypt stabilises | Reuters:

"Gulf markets stumbled on Thursday as investors cut their exposure while they await signs that oil prices have found a floor and for state budget announcements.

Crude prices fell below $40 at 1325 GMT. Global oversupply has gripped oil markets despite lower U.S. crude inventories this week.

The sustained slump in oil prices has hurt state finances in the Gulf and soured sentiment among both regional and foreign traders, with government spending a major factor in determining private sector profitability."



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