MIDEAST STOCKS-Qatar gains after new appointments, Saudi down on poor earnings | Reuters:
Qatar’s main bourse hit its highest level in a year and a half on Monday following a government reshuffle, while Saudi Arabia was dragged lower by a string of poor earnings.
The Qatar market extended Sunday’s gains as investors greeted the news about the appointment of new heads to its giant state-run energy firm and deep-pocketed sovereign wealth fund as well as appointment of the CEO of its largest bank as its new trade minister.
Abu Dhabi’s blue-chip index recovered from initial losses and recorded its biggest one-day gain in nearly two months, while Dubai erased most of the session’s losses to end roughly flat.
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