MIDEAST STOCKS-Gulf mixed in quiet trade, IMF hopes don't aid Egypt much | Reuters:
"Gulf stocks were mixed in quiet trade on Tuesday as global markets regained some strength after the shock of the British vote to leave the European Union. Signs of progress toward an International Monetary Fund loan failed to lift Egypt much.
With oil prices off their lows, Gulf investors feel Brexit may have little impact on their economies, although weakness in the pound and euro could affect Dubai's real estate and tourism sectors. Brent oil was up 2.7 percent to $48.41 a barrel as Gulf markets traded on Tuesday.
But Ramadan and summer holidays are limiting activity and deterring Gulf investors from taking large positions given the risk of more global market instability. Saudi Arabia's market will be closed throughout next week for Eid al-Fitr."
'via Blog this'
No comments:
Post a Comment