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Gulf consolidates; Saudi banks rise

Dubai / Reuters Gulf stock markets consolidated in quiet trade early on Wednesday but Saudi banks rose after a major lender posted earnings in line with estimates. The Saudi stock index gained 0.4 percent in the first 75 minutes of trade as the banking sector index rose 0.7 percent. Banque Saudi Fransi, the second major Saudi lender to report third-quarter ...

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Emerging markets extend losses

  Bloomberg Emerging-market stocks and currencies fell toward a three-week low as surging domestic risks from Thailand to South Africa worsened sentiment impaired by a fractious U.S. election campaign and bets for December policy tightening by the Federal Reserve. Thai equities and baht led losses amid concern for the health of King Bhumibol Adulyadej. The rand headed for a one-month ...

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OPEC hails Putin oil output pledge

  Bloomberg OPEC’s most senior official talked up Russia’s commitment to joining efforts to limit oil production even as the group’s internal disagreements over how to share the burden of cuts stood in the way of a global deal. “We are confident of Russia’s commitments,” OPEC Secretary-General Mohammed Barkindo said in an interview with Bloomberg television in Istanbul on Wednesday. ...

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