MIDEAST STOCKS-Saudi, UAE markets rebound after sell-off; Egypt slumps - Yahoo Maktoob News:
"Markets in Saudi Arabia and the United Arab Emirates rebounded on Monday as some investors bought back stocks at lower prices following a broad sell-off a day earlier, but Egypt extended declines to hit a new 23-month low.
Saudi Arabia's benchmark had tumbled to a 35-month low on Sunday and Dubai's close was its lowest since last December following an 8 percent decline in crude benchmarks the previous week that deepened a prolonged oil price rout.
Gulf investors seem to have belatedly realized that the consequent hit to state finances would also impact listed companies' earnings, especially as most blue chips are at least partly government-owned, but a slight rebound in oil prices then convinced some to buy back regional equities."
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