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Weekly economic update: Little change in region’s bourses

Global stock markets were choppy and ended the week as a disorderly lot. Europe recorded some gain but elsewhere red ink prevails, especially in emerging markets.

Regional bourses with the exception of KSA and Bahrain were little changed. In currency markets the GBP collapsed after the prospect of a hard Brexit sunk in and Gilt yield soared, taking the euro in the rout.

After Chinese markets reopened after a week of holidays, the yuan fell to its lowest value since 2010. Oil prices held the above the USD 50/b mark, while gold had another bad week.

(Source: Nasser Saidi & Associates) (Source: Nasser Saidi & Associates)