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Monday, 7 March 2016

MIDEAST STOCKS-Most Gulf markets lose steam, Egypt rises | Reuters

MIDEAST STOCKS-Most Gulf markets lose steam, Egypt rises | Reuters:

"Most stock markets in the Gulf lost steam on Monday after strong rises on the previous day due to climbing oil prices, but active trading volumes indicated investor sentiment remained positive. Egypt rose moderately in line with firm global bourses.

The Saudi stock index, which had jumped 2.9 percent on Sunday, closed 0.1 percent lower as petrochemical blue chip Saudi Basic Industries, which had climbed 20 percent since mid-February, fell back 1.0 percent.

But there was active trade in second- and third-tier stocks such as Saudi Fisheries, which surged 5.9 percent. Abdullatif Industrial Investment Co gained 2.8 percent after its annual general meeting approved a 3 percent dividend payment for the fourth quarter."



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Cautious bet on a rebound in emerging markets - FT.com

Cautious bet on a rebound in emerging markets - FT.com:

"Henderson and Jupiter are among a number of large investment managers that plan to increase their exposure to emerging markets and strengthen their teams in this area, despite widespread fears about the resilience of these economies.
Investors have reduced their emerging market exposure significantly over the past two years on the back of concerns about further US interest rate rises, an economic slowdown in China and political upheaval in large economies including Brazil, Turkey and Russia."



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Mubadala chief cautions against thinking low oil price is here to stay | GulfNews.com

Mubadala chief cautions against thinking low oil price is here to stay | GulfNews.com:

"The chief executive and managing director of Abu Dhabi investment vehicle Mubadala Development Company cautioned on Monday against thinking low oil price is “the new norm”.

Khaldoon Al Mubarak, in his opening address at the Global Aerospace Summit in Abu Dhabi, told the audience “low oil prices are not something new”. “It has happened before and I assure you it will happen again,” he said.

Oil prices have fallen more than 65 per cent from a high of $115 a barrel in June 2014 to below $40 a barrel today. A significant amount of Abu Dhabi’s revenues comes from oil sales, raising concerns over the immediate future of the emirates investments."



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