MIDEAST STOCKS-Qatar slides to 52-month low, Saudi Fransi down on stake sale:
"Qatar’s stock market slid to a 52-month closing low on Tuesday as foreign investors sold, while Banque Saudi Fransi fell in Riyadh after France’s Credit Agricole agreed to sell a 16.2 percent stake in it to local investor Kingdom Holding. The Qatari stock index fell 0.7 percent to 8,472 points, though it ended off the day’s low of 8,390 points as some bank stocks rebounded. Exchange data showed investors from outside the region were again net sellers. Qatar’s economy has been hit by an embargo imposed in June by neighbouring states. The wealthy government appears to have enough resources to ride out the sanctions, but its banks face higher funding costs as the other countries pull out deposits and loans."
'via Blog this'
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