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Monday, 18 July 2016

MIDEAST STOCKS-Qatar, Dubai surge, rest of region restrained | Reuters

MIDEAST STOCKS-Qatar, Dubai surge, rest of region restrained | Reuters:

"Qatar's stock market surged as it broke major technical resistance and Dubai was boosted by real estate companies on Monday, while most Middle Eastern markets were held back by weak oil prices and uneven corporate earnings.

The Qatari index gained 1.6 percent to 10,585 points, an advance on its December and March peaks at 10,490-10,502 points. Trading volume nearly quadrupled from Sunday's level.

The break triggered a reverse head & shoulders pattern formed by the highs and lows since December and pointing up in the long term to around 12,600 points."



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