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Tuesday, 6 June 2017

MIDEAST STOCKS-Gulf falls as Qatar crisis worries investors, Egypt continues ascent | Reuters

MIDEAST STOCKS-Gulf falls as Qatar crisis worries investors, Egypt continues ascent | Reuters:

"Most Gulf stock markets fell on Tuesday as the diplomatic crisis surrounding Qatar worried investors, while Egypt's equities index climbed for an 11th straight day to a fresh record high.

Qatar's index fell 1.6 percent to 9,059 points, its lowest close since January 2016, in heavy trade. It had plunged 7.3 percent on Monday after Saudi Arabia, the United Arab Emirates and Bahrain cut diplomatic and transport ties with Qatar, accusing it of backing terrorism.

The Qatari market rebounded more than 3 percent in early trade on Tuesday, buoyed by hopes that a Kuwaiti mediation effort might succeed. Some fund managers also said they expected Qatari state-linked funds to support the market."



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