Admiral David Beatty reportedly said that “something is wrong with our bloody ships today”, commenting on British naval losses during the Battle of Jutland in the First World War.
The same can be said about the regional stock markets in general and the Saudi stock market specifically, as current index levels do not seem to reflect the fundamentals of some of the stronger GCC economies.
The UK’s FTSE 100 index of leading shares rose above the key 5100 level for the first time since September 26 last year, buoyed by hopes the recession may be over and by the return of multibillion-pound mergers.
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