Middle East Stocks Mostly Firmer As Syrian Tensions Ease


Middle East shares mostly gained as investor worries fade about a military strike on Syria. Although there is no guarantee that the tensions will completely subside, investors are relieved to at least take a breather.

Sentiment in Egypt also improved after Egypt formed earlier this week a committee to amend the constitution pushed through by deposed Islamist president Mohamed Mursi. The interim government, installed by the army after it overthrew Mursi on July 3, wants the panel to complete its work within 60 days.

The constitution would then be put to a popular vote and provide the basis for parliamentary and presidential elections and a return to civilian rule early next year.

Abu Dhabi's main index rose 1.1% to 3,720 points, Dubai's index added 0.3% to 2,539 points, Saudi Arabia firmed 0.5% to 7,894 points, Egypt inched up 0.8% to 5,488 points, Qatar edged up 0.3% to 9,620 points, Kuwait added 0.5% to 7,587 points, Oman dipped 0.09% to 6,575 points and Bahrain slipped 0.2% to 1,182 points.

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This article appears in: Investing , Commodities

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