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Tuesday, 14 November 2017

MIDEAST STOCKS-Gulf mostly little changed, Dubai's GFH continues surge

MIDEAST STOCKS-Gulf mostly little changed, Dubai's GFH continues surge:

"Major Middle East stock markets moved largely sideways on Tuesday with little positive news to spur buying, although GFH Financial continued surging in Dubai after disclosing details of its business strategy. In contrast to recent days, Saudi Arabia’s index spent almost the entire day higher, closing up 0.3 percent - a sign that the impact of the kingdom’s sweeping anti-corruption purge, which has alarmed investors, might be easing. Since the beginning of last week, the market had traded lower for most of the day before rebounding toward the close as state-linked funds bought shares, apparently as part of a deliberate market-support operation designed to prevent panic."



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