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Thursday, 8 June 2017

MIDEAST STOCKS-Qatar rebounds but oil price plunge drags down Saudi | Reuters

MIDEAST STOCKS-Qatar rebounds but oil price plunge drags down Saudi | Reuters:

"Qatar's stock market rebounded on Thursday from a steep slide caused by its diplomatic rift with neighbouring states, while a plunge in oil prices weighed on Saudi Arabia's bourse.

The Qatari stock index, which had lost 9.7 percent over three days since Saudi Arabia and the United Arab Emirates cut diplomatic and trade relations, bounced 3.0 percent.

The mood in Doha remained nervous; Standard & Poor's downgraded Qatar's credit rating on Wednesday night, and the economic damage to Qatar from the rift could become serious if foreign banks pull out funds."



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