Google+ Followers

Thursday, 11 August 2016

MIDEAST STOCKS-IMF deal boosts Egypt, Saudi falls despite reform news | Reuters

MIDEAST STOCKS-IMF deal boosts Egypt, Saudi falls despite reform news | Reuters:

"Egyptian stocks rose on Thursday after Cairo and the IMF said they had agreed on a $12 billion loan, while major Gulf bourses pulled back and Saudi Arabia fell despite news that foreign investment curbs would be eased sooner than expected.

Egypt's index climbed 1.0 percent to a 13-month closing high after Cairo reached a preliminary three-year, $12 billion funding deal with the International Monetary Fund.

But although the loan may ease pressure on Egypt's finances and bolster the confidence of foreign investors, many fund managers said they were not rushing to buy stocks because of concern about how the deal would be implemented."



'via Blog this'