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Sunday, 18 December 2016

MIDEAST STOCKS-Gulf, Egypt inch up as trading volume shrinks | Reuters

MIDEAST STOCKS-Gulf, Egypt inch up as trading volume shrinks | Reuters:
"Stock markets in the Gulf posted small gains on Sunday after crude oil prices climbed back towards 17-month highs at the end of last week, but trading volumes shrank across the region. Foreign buyers continued to bid up shares in Egypt.

Brent futures rose 2.2 percent to settle at $55.21 a barrel on Friday after Goldman Sachs boosted its price forecast for 2017 and producers showed signs of adhering to a global deal to reduce output.

Saudi Arabian petrochemical shares were bid up on Sunday with all 14 listed producers advancing, pulling the main Saudi stock index 0.7 percent higher. Mid-sized producer Sahara Petrochemical was the top performer, jumping 7.1 percent."

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