MIDEAST STOCKS-Banks support Saudi after Fed comments, Qatar cools:
"Banking shares lifted the Saudi stock index slightly higher in early trade on Thursday but Qatar’s index cooled after it had risen for two straight days. The Riyadh index rose 0.2 percent after 20 minutes of trade as nine of the 12 listed banks rose after the U.S. Federal Reserve left interest rates unchanged on Wednesday but signaled it still expects one more increase by the end of the year. Most Gulf currencies are pegged to the dollar and any monetary policy change in the United States is usually mimicked by Saudi Arabia, United Arab Emirates and Qatar. A rate hike is considered positive for banks because it lifts their interest rate margins."
'via Blog this'
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