STOCKS NEWS MIDEAST-Succession move may boost Saudi market

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0530 GMT - The appointment of Saudi Arabia's Prince Muqrin bin Abdulaziz as deputy crown prince may bolster investor sentiment because it reduces uncertainty over the kingdom's succession plan, which had long clouded the market. Muqrin, the youngest son of the kingdom's founder King Abdulaziz al-Saud, is **w second in line to succeed King Abdullah in the world's top oil exporter, after his half-brother Crown Prince Salman. "It could very well be a positive for the market," says John Sfakianakis, chief investment strategist at Saudi investment firm MASIC. "I think that gives plenty of clarity to institutional investors, especially the international ones." Muqrin accompanied King Abdullah as he met U.S. President Barack Obama on weekend during a visit designed to allay the kingdom's concerns that its decades-old U.S. alliance had frayed.

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