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Wednesday, 12 July 2017

MIDEAST STOCKS-Confidence in banking sector ahead of Fed testimony supports Middle East

MIDEAST STOCKS-Confidence in banking sector ahead of Fed testimony supports Middle East:

"Stock markets in the Middle East rose on Wednesday, bolstered by banking shares ahead of testimony from Federal Reserve Chair Janet Yellen that could offer clues on when the central bank will tighten U.S. monetary policy. Most Gulf currencies are pegged to the dollar and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar. In Saudi Arabia all 12 of the listed lenders advanced, half of them rising by 1 percent or more, helping to push the index 0.8 percent higher."



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