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MidEast Shares Mixed But Egypt Rises to 6-Yr High

MidEast shares were mixed, but Egypt reached a six-year high on the back of property stocks.

Institutions have drawn confidence from government moves to cut energy subsidies, while the Egyptian pound's stability has boosted sentiment, according to Reuters.

Meanwhile, Saudi stocks slipped as Brent crude oil slumped to a nine-month low.

In Dubai, Gulf Finance House rose after it said it would list a planned $200 million sukuk issue on NASDAQ Dubai.

Dubai's main index dipped 0.2% to 4,812 points, Abu Dhabi eased 0.2% to 4,987 points, Qatar rose 1.1% to 13,279 points, Saudi Arabia slipped 0.1% to 10,589 points, Egypt added 0.4% to 9,274 points, Kuwait firmed 0.1% to 7,235 points, Bahrain lost 0.7% to 1,478 points and Oman shed 0.1% to 7,292 points.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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