Sunday 17 April 2016

MIDEAST STOCKS-Saudi pulls back as Doha deal in doubt; Egypt gains | Reuters

MIDEAST STOCKS-Saudi pulls back as Doha deal in doubt; Egypt gains | Reuters:

"Uncertainty at talks among oil producers in Doha dampened Gulf stock markets on Sunday, with Saudi Arabia pulling back after a 4 percent jump last week. Egypt edged up as local investors returned to buy shares.

Early on Sunday it appeared that producers were close to agreeing an oil output freeze, but negotiations were later delayed into the afternoon as a new proposal called for all OPEC members to agree even though Iran has said it will not take part. [ID:nL9N0VZ00T}

"Investors interpreted the delay to possibly mean a lack of a solid deal," said a Jeddah-based trader, adding that investors would prefer to wait until an agreement was reached.

"



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