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Sunday, 28 August 2016

MIDEAST STOCKS-Gulf may consolidate, few positives | Reuters

MIDEAST STOCKS-Gulf may consolidate, few positives | Reuters:

"Gulf stock markets may consolidate in quiet trade on Sunday with few positive factors to push them up.

Brent crude oil futures ended last week on a firm note, trading just below $50 a barrel, but U.S. stock indexes fell slightly because of renewed speculation about a possible U.S. interest rate hike this year.

In Saudi Arabia, the index turned technically medium-term bearish early this month, with thin turnover leaving stocks vulnerable to sell orders. Last at 5,977 points, the index faces immediate resistance on the April low of 6,066 points."



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