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Thursday, 29 December 2016

MIDEAST STOCKS-Gulf set to consolidate, Saudi money supply data is positive | Reuters

MIDEAST STOCKS-Gulf set to consolidate, Saudi money supply data is positive | Reuters:
"Gulf stock markets look set to consolidate on Thursday with few fresh incentives, as global bourses and oil prices have moved little over the past 24 hours.

Saudi Arabian money supply data released late on Wednesday was modestly positive, showing commercial bank deposits rose to their highest level this year in November - a fresh sign that a liquidity crunch due to low oil prices is easing.

This could encourage a modest rise by the Saudi stock index , which remains in short- and longer-term technical uptrends after this week's climb to a fresh year-high in active volume.

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