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Thursday, 24 November 2016

MIDEAST STOCKS-Egypt succumbs to profit taking, Saudi whipsaws but ends week up | Reuters

MIDEAST STOCKS-Egypt succumbs to profit taking, Saudi whipsaws but ends week up | Reuters:
"Egypt's stock index slipped from a multi-year peak on Thursday while shares in the Gulf were mixed with Saudi Arabia's market swinging in volatile, heavy trade but ending the week on a firm footing.

Cairo's index of the 30 most actively traded shares dropped 1.7 percent to 11,353 points, falling from a strong technical barrier at its 2008 peak of 12,039 points. The broader market index, which has been outperforming over the last few sessions, retreated 0.1 percent.

Investor turnout remained strong, according to bourse data, but heavily skewed towards aggressive selling from local traders while international funds remained net buyers."

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