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1/5/24, 12:01 PM Mideast Stocks: Major Gulf markets mixed on Fed minutes, rising oil
A screen displaying stock market prices is seen at an investment bank in Riyadh, June 9, 2013.
Faisal Al Nasser
Mideast Stocks: Major Gulf markets mixed on Fed
minutes, rising oil
In Abu Dhabi, the index eased 0.1%
Ateeq Shariff, Reuters News
January 4, 2024
Major stock markets in the Gulf were mixed in early trade on Thursday as investors continued to gauge
the path of interest rates in the U.S., although rising oil prices limited losses.
Minutes from the Federal Reserve's December meeting did little to change investor sentiment.
Policymakers appeared increasingly convinced last month that inflation was coming under control, with
growing concern about the damage "overly restrictive" monetary policy might do to the economy,
according to the minutes.
Most Gulf currencies are pegged to the dollar and any monetary policy change in the United States is
usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.
The Qatari benchmark dropped 0.7%, with Qatar Islamic Bank losing 1.3% and petrochemical maker
Industries Qatar retreating 1.3%.
https://www.zawya.com/en/markets/equities/mideast-stocks-major-gulf-markets-mixed-on-fed-minutes-rising-oil-p5e8etov 1/2
