Saturday, 6 December 2008

Calm ahead of Eid al-Adha holiday

Arab stock markets closed ahead of a week-long holiday marking Eid al-Adha in a relatively calm mood.

Saudi shares trimmed losses, mainly in response to remarks by King Abdullah that the Saudi economy was still 'strong'.

Jordanian shares saw some 'buying by foreigners, and Kuwaiti stocks rebounded on reports that the state-owned Kuwait Investment Corporation planned to buy equities after the holiday with USD 20 billion.

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