Wednesday 23 January 2019

MIDEAST STOCKS-Financials weigh on #Qatar, most Major Gulf markets mixed | Reuters

MIDEAST STOCKS-Financials weigh on Qatar, most Major Gulf markets mixed | Reuters:

The Qatar stock market fell in early trading on Wednesday, pressured by its financial shares, while property stocks lifted Saudi Arabia’s index.

Qatar’s index lost 0.8 percent, primarily due to a 1 percent drop in blue-chip Qatar National Bank and a 1.4 percent fall in lender Masraf Al Raya.

Gulf Arab economies will grow at a slower pace than previously forecast, a quarterly Reuters poll of economists found, as oil output cuts, lower crude prices and weaker global growth put pressure on regional economies.

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