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Thursday, 12 January 2017

MIDEAST STOCKS-Saudi edges up in volatile trade as oil recovers, Egypt hits record | Reuters

MIDEAST STOCKS-Saudi edges up in volatile trade as oil recovers, Egypt hits record | Reuters:
"Saudi Arabia's stock market edged higher in volatile trade on Thursday but suffered its worst weekly decline since September, while Egypt extended its bull run as international funds accumulated shares.

The Saudi index closed 0.4 percent higher at 6,922 points; it remains near a six-week low and lost 3.8 percent over the week.

Investors bought shares after Brent oil futures rebounded 2.7 percent overnight and traded above $55.50 on Thursday. Eight of the 14 listed petrochemical producers rose with Saudi Arabia Fertilizers climbing 2.5 percent."

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