MIDEAST STOCKS-Major indexes lose steam at chart resistances | Reuters:
"Major Middle Eastern stock markets rose in early trade on Tuesday but then lost steam just below technical resistances, showing many investors remain nervous about unstable oil prices.
Rises in oil and global equities markets over the past several days have helped to create a feeling that the worst may be over for Gulf bourses; this sentiment has been seen in rising trading volumes.
But confidence has not completely returned, and Saudi Arabian data on Tuesday underlined pressures on the economy from low oil prices. After the government raised gasoline prices in late December as an austerity step, annual inflation jumped to 4.3 percent in January - the highest since the data series began in September 2012 - from 2.3 percent in December."
'via Blog this'
No comments:
Post a Comment