September 7, 2017 / 5:33 AM / 10 months ago

MIDEAST STOCKS-Global markets may give Gulf a firm tone

DUBAI, Sept 7 (Reuters) - Gulf stock markets may have a firm tone on Thursday because of a strong performance by global markets, where both equities and oil price have risen, although there is very little domestic news in the Gulf to stimulate trade.

MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.4 percent while Brent oil is at $54.11 a barrel after touching a 3-1/2-month high of $54.31 late on Wednesday.

The Dubai index’s short-term technical outlook is modestly positive, with a minor uptrend channel having formed since mid-August; the index, last at 3,642, faces resistance at the August peak of 3,681 points. (Reporting by Andrew Torchia)

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