MENA Weekly 09-09-2011

MENA Markets Commentary

Following the huge drop all regional markets suffered from prior to the holidays, most GCC bourses managed to rebound on renewed confidence, and as the valuation of several selected stocks reached tempting levels, instigating a buying opportunity. However, international markets’ drop and the euro decline against the dollar on fears of renewed recession in the United States, as well as sustained worries about the euro zone debt crisis imposed pressure on some MENA markets.