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Sunday, 28 August 2016

MIDEAST STOCKS-Saudi and Qatar rebound, rest of region weak | Reuters

MIDEAST STOCKS-Saudi and Qatar rebound, rest of region weak | Reuters:

"Stock markets in Saudi Arabia and Qatar partially recovered on Sunday from last week's losses, while other Gulf markets dropped in quiet trade and Egypt sank as the government was hit by a corruption scandal in the wheat industry.

Saudi Arabia's index, which had dropped 4.0 percent last week because of concern about the country's economic slowdown, rose 1.6 percent as many stocks reliant on domestic demand rebounded.

Nevertheless, trading volume remained thin - among its lowest levels this year - which suggested many investors remained wary of the market and that it might not be starting an extended rally.

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