Sunday 3 December 2017

MIDEAST STOCKS-Yemen helps Saudi rise for eighth day, Qatar rebounds on FX

MIDEAST STOCKS-Yemen helps Saudi rise for eighth day, Qatar rebounds on FX:

"Saudi Arabia’s stock market rose for an eighth straight day in active trade on Sunday, climbing above technical resistance, as sentiment was helped by hopes for an end to the conflict in Yemen. A stabilising currency helped Qatar rebound. Former Yemeni president Ali Abdullah Saleh said on Saturday he was ready for a “new page” in ties with the Saudi-led coalition fighting in Yemen if it stopped attacks on his country, in a move that could pave the way to end nearly three years of war. The Saudi stock index gained 1.2 percent to 7,089 points. It rose above resistance around 7,000 points, which has capped the market since mid-October and roughly coincides with the 200-day average, now at 7,014 points."



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