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Last update: Tue, 03 May 2016 05pm

Middle East & Africa

Markets - Equity - Middle East & Africa

Gulf may stay weak as oil falls further DUBAI: Stock markets in the Gulf may edge down on Monday after oil prices extended their losses, though Egypt may take its cue from upbeat Asian bourses.Brent crude futures are down 1 percent in early Asian trade, extending a 4 percent tumble on Friday after Saudi Arabia said it would only participate in a global freeze of its output if its rival Iran also took part, something Tehran has dismissed.On Sunday Riyadh's stock index fell 1.6 percent to a five-week low of 6,126 points, breaking technical support at its mid-March low of 6,202 points.Dubai's index, last at 3,303 points, retreated further from technical resistance on the March peaks of 3,397-3,421 points; it has chart support at the mid-March low of 3,253 points.With first-quarter financial results due across the Gulf in a few weeks, investors are repositioning portfolios in anticipation of the impact of low oil prices, austerity measures and subdued ...

Markets - Equity - Middle East & Africa

China markets closed for public holiday China's stock, bond, foreign exchange and commodity futures markets are closed for the Qingming festival or Tomb Sweeping Day.Markets will resume trade on April 5.For the latest Chinese market reports, double-click on the following codes in brackets for stocks, bonds and money , foreign exchange and metals.Copyright Reuters, 2016 ...

Markets - Equity - Middle East & Africa

Saudi falls after oil retreats, Egypt edges up DUBAI: Investors in Saudi Arabia sold stocks in early trade on Sunday after oil prices retreated at the end of last week and because of uncertainty over economic policy, while Egypt's bourse edged up.Riyadh's index fell 1.5 percent in the first hour of trade. Saudi deputy crown prince Mohammed bin Salman told Bloomberg at the weekend that the Public Investment Fund would eventually control more than $2 trillion, partly by taking over shares in national ...

Markets - Equity - Middle East & Africa

Nigerian stocks post biggest quarterly fall in 15 months LAGOS: Nigerian stocks recorded their biggest quarterly decline in 15 months on Thursday, falling 11.6 percent in the three months to March, after a currency rout triggered by the plunge in oil prices hurt sentiment. Nigeria's index, which has the second-biggest weighting after Kuwait on the MSCI frontier market index, gained 0.64 percent on Thursday to end at 25,306 points for the first quarter. The index stood at 34,657 points at the end of the ...

Markets - Equity - Middle East & Africa

Petchems pull Saudi down, Egypt falls after budget DUBAI: Petrochemical shares pulled Saudi Arabia's stock market down early on Thursday after Brent oil fell back below $39 a barrel, while Egypt's bourse dropped after the cabinet announced next fiscal year's draft budget.The Saudi index lost 0.7 percent as Saudi Basic Industries SE> slid 1.3 percent. Hospital operator Middle East Healthcare, which had jumped its 10 percent daily limit for two straight days since listing on Tuesday, pulled back 0.3 percent.But Arabian Pipes climbed ...

Markets - Equity - Middle East & Africa

Saudi, Egypt mixed in modest volumes DUBAI: Stock markets in Saudi Arabia and Egypt were narrowly mixed in early trade on Wednesday as modest trading volumes suggested some investors were withdrawing from the market after a surge of activity in the last few weeks.The Saudi bourse jumped earlier this month in response to the rebound of oil prices near $40 a barrel, while Egypt was boosted by a currency devaluation which could help to resolve the country's longstanding foreign exchange shortage.But ...

Markets - Equity - Middle East & Africa

Gulf markets mixed, Dubai bounces from support DUBAI: Gulf stock markets were mixed in quiet, early trade on Wednesday though Dubai's index bounced from technical support.Dubai climbed 0.8 percent to 3,302 points in the first 45 minutes. The index reached a mid-March low of 3,253 points.GFH Financial, the most heavily traded stock, rose 2.9 percent after saying it had signed a 100 million pound ($144 million) deal to become an anchor partner in a central London property development. It said this would ...