Thursday 12 April 2018

MIDEAST STOCKS-Most of Gulf hit by Syria tensions but Saudi stabilises

MIDEAST STOCKS-Most of Gulf hit by Syria tensions but Saudi stabilises:

"Most Gulf stock markets dropped in early trade on Thursday as fears of an imminent strike on Syria unsettled bourses globally, but Saudi Arabian stocks stabilised after their sell-off late on the previous day. The geopolitical tensions have sent the Brent oil price soaring as high as $73.09 a barrel, a multi-year high, and strong oil prices are in themselves positive for Gulf economies. The Saudi index was up 0.2 percent after half an hour, after plunging 1.9 percent on Wednesday in the final hour of trade when U.S. President Donald Trump tweeted that missiles “will be coming” to Syria."



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