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Sunday, 26 March 2017

MIDEAST STOCKS-Markets mixed as Saudi fails to keep reform-related gains | Reuters

MIDEAST STOCKS-Markets mixed as Saudi fails to keep reform-related gains | Reuters:

"Middle East stock markets were mixed in mostly thin trade on Sunday, with Saudi Arabia giving up early gains triggered by progress in reforms that could help it to join MSCI's emerging market index. The Saudi index rose as much as 0.5 percent in early trade but closed 0.1 percent down in its thinnest volume since last September. The exchange said late on Thursday that it would extend the period for settling trades and introduce short-selling on April 23 in reforms demanded by MSCI. The reforms had been expected in the second quarter, but the date is positive because it gives MSCI time to evaluate their impact before deciding in June whether to put Riyadh on its review list."



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