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Tuesday, 25 August 2015

MIDEAST STOCKS-Saudi surges 7.4 pct in heavy trade as region rebounds | Reuters

MIDEAST STOCKS-Saudi surges 7.4 pct in heavy trade as region rebounds | Reuters:



"Arabia's stock market surged
7.4 percent on Tuesday as the region rebounded from several days
of heavy selling, encouraged by stronger oil prices and rising
global bourses.



The main Saudi stock index's leap to 7,543 points
was accompanied by the highest trading volume since May 2014, a
positive technical signal. It followed a slide which had taken
the index down 23 percent in August, erasing over $100 billion
of market value.



The bourse's rebound, which accelerated in late trade,
partly eased concern about pressure on the Saudi riyal's peg to
the U.S. dollar. One-year dollar/riyal forwards fell 15
percent and five-year Saudi credit default swaps
, used to insure against a sovereign debt
default, dropped to 100 basis points from 120."



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MIDEAST STOCKS-Saudi, Egyptian stocks rebound modestly in early trade | Reuters

MIDEAST STOCKS-Saudi, Egyptian stocks rebound modestly in early trade | Reuters:



"Saudi Arabian and Egyptian stocks rebounded modestly in early trade on Tuesday as more stable oil prices and Asian bourses prompted some investors to buy back shares after several days of steep declines.



The Saudi stock index, which had plunged 5.9 percent on Monday to bring its losses this month to 23 percent, edged up 0.8 percent in the opening minutes of Tuesday.



Buying focused on blue chips, suggesting institutional investors were active. Petrochemicals giant Saudi Basic Industries (SABIC) rose 3.1 percent, miner Ma'aden climbed 3.5 percent and Alinma Bank gained 3.7 percent."



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China's chronic lack of information | FT Markets - YouTube

China's chronic lack of information | FT Markets - YouTube: ""



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Europe recovers from Shanghai fall, RSA deal eyed | FirstFT - YouTube

Europe recovers from Shanghai fall, RSA deal eyed | FirstFT - YouTube: ""



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How GCC states’ break-even oil prices stack up | The National

How GCC states’ break-even oil prices stack up | The National:



"The fiscal break-even price of oil is the price that balances an oil-exporting country’s budget.



Different institutions and assessors provide varying estimates of the BEP (break-even price), leading to confusion in the minds of many who track the metric.



The metric, at its core, is simple in terms of calculation. So why, then, the plethora of estimates?"



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Emerging markets veteran Mark Mobius stays upbeat on long-term outlook amid sell-off | The National

Emerging markets veteran Mark Mobius stays upbeat on long-term outlook amid sell-off | The National:



"Mark Mobius, the fund manager who popularised investment in emerging markets, is far from throwing in the towel, even as the asset class he made his name in is heading towards its biggest annual decline since the global financial crisis of 2008.



“The long-term outlook is very good for two important reasons,” he said.



“First, at the present time many investors are underweight in emerging markets. Secondly, emerging markets continue to experience more than double the growth of developed markets.”"



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Abu Dhabi, Dubai stocks stabilise after rout | GulfNews.com

Abu Dhabi, Dubai stocks stabilise after rout | GulfNews.com:



"Abu Dhabi and Dubai index stabilised with Asian peers on Tuesday, a day after world stocks wiped out $2.7 trillion off global indices.



Abu Dhabi Securities Exchange General Index was 1.24 per cent lower at 4,211.71, while the Dubai index was up 1.17 per cent to be at 3,441.49.



Amlak Finance was up 1.13 per cent at Dh1.79, while Emaar Properties was 0.16 per cent to be at Dh6.13."



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Oil slides to 6-year low as commodities tumble - FT.com

Oil slides to 6-year low as commodities tumble - FT.com:



"Oil plummeted more than 6 per cent to levels last seen during the financial crisis and a broad index of commodity prices slid to the lowest point of this century as economic doubts gathered over China, the engine room of demand growth over the past decade.



China is the world’s largest importer of raw materials and the biggest energy consumer globally. Mounting signs of a sputtering economy, including a plunge in the Shanghai equity market Monday, have raised the prospect of softer demand for oil and other commodities, removing another support for prices laid low by plentiful supply.



Paul Gait, an analyst at Bernstein, said: “There’s panic and people are selling everything that sniffs of China.”"



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Grey Monday - Authers' Note - Markets & Investing Video - FT.com

Grey Monday - Authers' Note - Markets & Investing Video - FT.com:





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China crash v capitulation | Short View - YouTube

China crash v capitulation | Short View - YouTube: ""



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MIDEAST STOCKS-UAE markets firm after oil, Asian bourses stabilise | Reuters

MIDEAST STOCKS-UAE markets firm after oil, Asian bourses stabilise | Reuters:



"United Arab Emirates stock markets were firm in early trade on Tuesday after oil prices and Asian bourses stabilised at least temporarily, encouraging UAE retail investors to buy back property shares in particular.



Dubai's index, which had tumbled over 8 percent in the past two days, climbed 2.3 percent in the opening minutes. Leading real estate developer Emaar Properties gained 2.1 percent and DAMAC Properties rose 3.7 percent.



Abu Dhabi's market edged up 0.1 percent as Aldar Properties gained 0.9 percent. Kuwait was 0.4 percent higher, though Oman slipped 0.3 percent."



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