DUBAI Dec 29 Gulf stock markets look set to
consolidate on Thursday with few fresh incentives, as global
bourses and oil prices have moved little over the past 24 hours.
Saudi Arabian money supply data released late on Wednesday
was modestly positive, showing commercial bank deposits rose to
their highest level this year in November - a fresh sign that a
liquidity crunch due to low oil prices is easing.
This could encourage a modest rise by the Saudi stock index
, which remains in short- and longer-term technical
uptrends after this week's climb to a fresh year-high in active
National Bank of Oman could attract some interest
after saying it received a letter from Treasure Fleet
International proposing to buy a stake in Oman's third biggest
However, the nature of Treasure Fleet's background,
resources and strategy are not clear. It is Singapore-based,
according to the company's website, which is incomplete and
gives no details of its business; a Singapore business directory
says it was incorporated in August this year.
(Reporting by Andrew Torchia)