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Sunday, 17 July 2016

MIDEAST STOCKS-Gulf edges up despite Turkey; Saudi's NCB falls on earnings | Reuters

MIDEAST STOCKS-Gulf edges up despite Turkey; Saudi's NCB falls on earnings | Reuters:

"Major Middle Eastern stock markets edged up on Sunday although some shares with exposure to Turkey underperformed after the failed coup attempt there, and Saudi Arabia's largest listed bank dropped after reporting second-quarter earnings.

The instability in Turkey is expected to have little financial impact on the Gulf because trade and investment ties are relatively minor. Nevertheless, fund managers said the event made some investors more cautious about buying.

Qatar National Bank, which last month completed the acquisition of Turkey's Finansbank, slipped 0.5 percent, helping to pull the Qatari stock index down 0.1 percent."



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