Stock markets in the United Arab Emirates and Qatar may rise on Sunday after a smooth transition of power in Saudi Arabia and the launch of the European Central Bank's bond-buying programme. After the death of King Abdullah at the weekend, Saudi Arabia's new King Salman pledged continuity in energy and foreign policies and moved quickly to appoint younger men as his heirs. This helped to quell speculation about internal palace rifts, and when it reopens on Monday, the Saudi stock market may react positively, buoying the entire region. The markets of Saudi Arabia, Kuwait, Oman and Bahrain are closed on Sunday because of King Abdullah's death.
01-25-2015, 07:32 PM
MIDEAST STOCKS-Smooth Saudi succession, ECB easing may support Gulf
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