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Tuesday, 10 January 2017

MIDEAST STOCKS-Egypt rises but foreign funds sell; oil pulls down Saudi | Reuters

MIDEAST STOCKS-Egypt rises but foreign funds sell; oil pulls down Saudi | Reuters:
"Egypt's stock market rose strongly on Tuesday but foreign funds were net sellers for a second time since the Egyptian pound was floated on Nov. 3. Gulf markets diverged with Saudi petrochemical shares hit by weak oil prices.

The Egyptian blue chip index added 1.8 percent to 13,015 points, a fresh all-time closing high, but trading volume fell slightly below its seven-day average.

Foreign investors, heavy buyers of Egyptian shares since the currency was floated, were net sellers by a small margin after also selling on Sunday this week."

'via Blog this'