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Thursday, 3 November 2016

MIDEAST STOCKS-Qatar falls after chart support breaks, Saudi rises | Reuters

MIDEAST STOCKS-Qatar falls after chart support breaks, Saudi rises | Reuters:

"Most Gulf stock markets moved little early on Thursday but Qatar's index fell after it broke technical support while Saudi Arabia's bourse continued to outperform the region.

Gulf markets showed little reaction to a big monetary policy change in Egypt, where the central bank said it had floated the pound and hiked interest rates by 300 basis points. This triggered a surge in Egyptian stocks at the opening.

Qatar's stock index sank 1.1 percent to 9,966 points after slipping 1.3 percent on Wednesday to 10,073 points; that broke technical support at 10,153-10,160 points, where the September low coincided with the 200-day average."



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