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Thursday, 7 December 2017

MIDEAST STOCKS-Saudi bounces from technical support, region mostly sluggish

MIDEAST STOCKS-Saudi bounces from technical support, region mostly sluggish:

"Most Middle Eastern stock markets were sluggish on Thursday but Saudi Arabia’s index rebounded from technical support in its heaviest trading volume since June. The Saudi index rose 0.9 percent to 7,086 points, bouncing from near strong support around 7,000 points, where the peaks in late October and November roughly coincide with the 200-day average, now at 7,015 points. The most heavily traded stock, real estate firm Dar Al Arkan , climbed 8.3 percent to 12.88 riyals in its heaviuest trade since June. It has rocketed from around 7.50 riyals in mid-November, when MSCI said it was adding the stock to its Saudi Arabia Index."



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Investments need to move beyond trophy assets - The Peninsula Qatar

Investments need to move beyond trophy assets - The Peninsula Qatar:

"Qatar has to diversify its international investments, both in terms of geographies and asset classes. Locally, the country needs to look beyond FIFA 2022, experts said yesterday. Participating in a panel discussion on the concluding day of Euromoney Qatar Conference here yesterday, Mohsin Mujtaba, Director of Product and Market Development, Qatar Stock Exchange(QSE) said Qatar has to continue with its international investments, but it needs to make a fundamental change in its portfolio strategy. “Owning lot of trophy assets in the international market shows the maturity of any investor. You start with making an impact, which is done.” Now, Qatar needs to diversify and look beyond trophy assets to to meet long-range financial goals while minimising risk, Mohsin said."



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Exclusive: U.S. asks Israel to restrain response to Jerusalem move - document

Exclusive: U.S. asks Israel to restrain response to Jerusalem move - document:

"The United Arab Emirates expects to be taken off the European Union’s tax-haven blacklist after meeting criteria for transparency set by the EU, the UAE government said on Thursday.

“We have committed to a reform process which will be finalised by October 2018, and we are absolutely confident this will ensure the UAE is swiftly removed from the list,” the government said in a statement."



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MIDEAST STOCKS-Gulf mixed in early trade, Saudi and Dubai edge up

MIDEAST STOCKS-Gulf mixed in early trade, Saudi and Dubai edge up:

"Gulf stock markets were mixed in early trade on Thursday with Saudi Arabia and Dubai edging up but Qatar continuing to slide after this week’s failure to make progress in ending Doha’s diplomatic isolation. The Saudi index was 0.2 percent higher at 7,038 points after 45 minutes, rebounding from near strong technical support around 7,000 points, where the peaks in late October and November roughly coincide with the 200-day average, now at 7,015 points. The most heavily traded stock, real estate firm Dar Al Arkan , climbed 4.1 percent to 12.38 riyals, continuing an uptrend. It has rocketed from around 7.50 riyals in mid-November, when MSCI said it was adding the stock to its Saudi Arabia Index."



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