Google+ Followers

Wednesday, 9 November 2016

MIDEAST STOCKS-Markets absorb shock Trump victory, region seen resilient | Reuters

MIDEAST STOCKS-Markets absorb shock Trump victory, region seen resilient | Reuters:

"Gulf stock markets dependent on foreign funds, such as Dubai and Qatar fell on Wednesday as the region absorbed the shock of Donald Trump's U.S. election win and prepared for more volatile trading ahead.

Trump, feared by markets because of his views on trade, immigration and taxation, may enact policies that could affect the oil price, the strength of the dollar and capital flows, said Monica Malik, chief economist of Abu Dhabi Commercial Bank.

"More uncertainty could place downside pressure on oil prices and capital flows. Trump has also supported increasing hydrocarbon production to support jobs growth, which could delay the rebalancing of the oil price," she said."



'via Blog this'