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Wednesday, 2 November 2016

MIDEAST STOCKS-Gulf falls as Saudi outperforms; investment steps boost Egypt | Reuters

MIDEAST STOCKS-Gulf falls as Saudi outperforms; investment steps boost Egypt | Reuters:

"Gulf stock markets fell on Wednesday after drops in global bourses and oil prices, but banking shares limited the decline in Saudi Arabia. Egypt's blue chip index rose after the government approved steps designed to boost investment.

In the nine days through Monday, the Saudi index rocketed 10.1 percent in response to the success of Riyadh's international bond issue, which eased concern about tight liquidity in the banking system.

On Tuesday, the index pulled back slightly, and it fell a further 0.1 percent on Wednesday. The banking sector edged up 0.04 percent, suggesting positive sentiment due to the bond issue has not yet faded."



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