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Thursday, 13 July 2017

MIDEAST STOCKS- Gulf markets up on Fed hopes; Qatar index at highest since sanctions

MIDEAST STOCKS- Gulf markets up on Fed hopes; Qatar index at highest since sanctions:

"Gulf stocks advanced on Thursday, with Qatar leading the way as investors turned positive on financial earnings and also took heart from U.S. Federal Reserve Chair Janet Yellen's overnight comments hints of a more gradual monetary tightening.

Financial and property stocks were leading gainers across the region's stock markets, with the Qatari index at its highest since Saudi Arabia, Bahrain, the United Arab Emirates and Egypt cut diplomatic ties and severed transport links with Qatar in early June.

Qatar stocks were up 1.96 percent in early trade, led by Qatar National Bank's 4.9 percent gain and a 7.9 percent jump for Qatar Electricity and Water Co."



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