Gulf Markets Likely to Move Little, UAE May OutperformSource: www.export-egypt.com 12/27/2016, Location: Middle East |
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Gulf stock markets look likely to move little with some foreign investors absent for New Year holidays and few fresh cues from corporate news or global markets.
Asian bourses and crude oil prices are flat as those markets reopen after Christmas holidays. Saudi Arabia's index closed 0.3 percent lower at 7,166 points in lower trading volume, retreating from technical resistance at this year's peak of 7,235 points, which may hold for now in the absence of fresh catalysts. United Arab Emirates markets outperformed the region and rising trading volumes suggested enough investors might remain engaged with the market in the holiday season to maintain that outperformance. |
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