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Thursday, 17 May 2018

MIDEAST STOCKS-Gulf largely ignores high oil prices; Alawwal Bank rises again | Reuters

MIDEAST STOCKS-Gulf largely ignores high oil prices; Alawwal Bank rises again | Reuters:

"Saudi Arabia and other Gulf markets failed to reflect strength in oil prices on Thursday, with geopolitics continuing to weigh on investor sentiment, though Saudi bank Alawwal soared again on its merger plans.

Investor activity was also slow because of the Muslim fasting month of Ramadan, traders said.

The Saudi index edged up by only 0.1 percent despite Brent crude futures moving ever closer to $80 a barrel, their highest since 2014, as supplies tighten and demand remains strong."



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