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Thursday, 11 August 2016

MIDEAST STOCKS-Gulf soft, Saudi edges down despite reform announcement | Agricultural Commodities | Reuters

MIDEAST STOCKS-Gulf soft, Saudi edges down despite reform announcement | Agricultural Commodities | Reuters:

"Gulf stock markets were soft early on Thursday after oil prices and global bourses pulled back, while Saudi Arabia edged down despite the Saudi regulator's announcement that it would ease restrictions on foreign investment sooner than expected.

The Saudi index fell 0.3 percent in the first 75 minutes of trade with most banks and many second-tier stocks weak, though Arabian Pipes, a supplier to oil giant Saudi Aramco, jumped 4.9 percent in unusually heavy trade.

The Capital Market Authority said late on Wednesday that it would relax curbs on foreign institutional investors on Sept. 4, sooner than the mid-2017 deadline previously indicated."



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