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MIDEAST STOCKS-Gulf markets likely to move little, UAE may outperform
December 27, 2016 / 5:46 AM / a year ago

MIDEAST STOCKS-Gulf markets likely to move little, UAE may outperform

DUBAI, Dec 27 (Reuters) - Gulf stock markets look likely to move little on Tuesday 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 on Monday 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 on Monday and rising trading volumes suggested enough investors might remain engaged with the market in the holiday season to maintain that outperformance. (Reporting by Andrew Torchia)

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