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Wednesday, 5 July 2017

MIDEAST STOCKS-Political stalemate stalls Doha, Riyadh stabilises in early trade | Reuters

MIDEAST STOCKS-Political stalemate stalls Doha, Riyadh stabilises in early trade | Reuters:

"Qatar's stock market index stayed near January 2016 lows early on Wednesday ahead of a meeting by the four Arab states which are boycotting it later in the day in Cairo. Riyadh's bourse steadied after a sharp fall on the previous day. A deadline for Doha to comply with the four states' demands officially expired overnight; Qatar has submitted replies to the demands to mediator Kuwait, but nobody has disclosed what those replies are. Doha has shown no sign of acquiescing to major demands, which raises the possibility of the four states imposing more sanctions, but it is not clear that any fresh steps - such as the withdrawal of deposits from Qatar's banking system - would be crippling, given Doha's large financial resources."



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