Tuesday 3 October 2017

MIDEAST STOCKS-Egypt breaks winning streak, Gulf ignores oil slump

MIDEAST STOCKS-Egypt breaks winning streak, Gulf ignores oil slump:

"Egypt’s stock market fell on Tuesday, ending a six-day winning streak that took the blue-chip index to an all-time high, while Gulf bourses traded narrowly but a couple of petrochemical shares boosted Saudi Arabia. The Egyptian index dropped 0.5 percent to 13,931 points. A purchasing managers’ survey published on Tuesday showed non-oil private sector activity fell at its sharpest pace for three months in September, but analysts attributed the index’s pull-back mostly to natural profit-taking. “After hitting 14,100 points on Monday, it is normal to see such an adjustment on Tuesday - the market remains on a positive trend,” said Ibrahim Nimr, head of technical analysis at Naeem brokerage in Cairo."



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