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Tuesday, 13 December 2016

MIDEAST STOCKS-Saudi, UAE retreat ahead of likely U.S. rate hike, Saudi budget; Egypt slips | Reuters

MIDEAST STOCKS-Saudi, UAE retreat ahead of likely U.S. rate hike, Saudi budget; Egypt slips | Reuters:
"Stock markets in the Gulf pulled back on Tuesday as investors turned their attention to an expected U.S. interest rate hike on Wednesday and the upcoming Saudi Arabian state budget for 2017.

In Riyadh, the index declined for a second straight session, falling 0.8 percent. Trading volume shrank by roughly half from Monday's very large amount.

Investors have been readjusting their portfolios in anticipation of the 2017 budget announcement, which is expected late this month."

'via Blog this'