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Thursday, 15 December 2016

MIDEAST STOCKS-Most markets fall after Fed rate hike but retail investors boost Saudi | Reuters

MIDEAST STOCKS-Most markets fall after Fed rate hike but retail investors boost Saudi | Reuters:
"Most major Middle Eastern stock markets fell on Thursday after the U.S. central bank raised interest rates but buying by local retail investors lifted Saudi Arabia.

The central banks of Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates and Qatar followed the Fed with their own 0.25 percentage point rate hikes and Oman, which has been raising its repo rate gradually in recent months, is expected to continue doing so.

This was no surprise to Gulf equity investors and banking system liquidity has actually shown signs of improving in parts of the region as oil prices have climbed. Nevertheless, most Gulf bourses followed global markets lower on Thursday."

'via Blog this'