MIDEAST STOCKS-Gulf markets mostly down, Egypt up despite clashes | Reuters

MIDEAST STOCKS-Gulf markets mostly down, Egypt up despite clashes | Reuters:

"* Investors take profits before U.S. debt deadline, Eid break

* Mixed Q3 earnings reports trickle in

* Dubai index falls near initial technical support

* Dana Gas tumbles after downgrade

* Egyptian clashes seen less severe than in August

By Olzhas Auyezov

DUBAI, Oct 7 (Reuters) - Gulf markets mostly edged down on Monday as investors took profits ahead of long Eid holidays and the U.S. government moved into the second week of its shutdown. Egypt's market rose despite at least 53 deaths in Sunday's political violence.

The Gulf will be closed for most of next week - the time when the U.S. government and Congress must agree on raising the country's debt ceiling to avoid a default. Although most Gulf investors expect a positive resolution to the U.S. crisis, they will be unable to react to any bad news during the holidays.

Meanwhile, a handful of third-quarter earnings reports announced so far this week have been mixed."

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