Market Mayhem: MENA Implications

The Greek debt crisis, contagion fears in other southern European states, the euro's relentless slide, yesterday's (May 6) large equity sell off in the US, the rally in US Treasuries and German bunds… for the time being at least, risk aversion is the name of the game. As far as the MENA region is concerned, we are likely to see equity markets open next week sharply lower. We reiterate our long-term preferences for the Saudi and Egyptian equity markets over Kuwaiti and UAE. However, all the major stock markets across the region are likely to feel some short-term pain. Here,

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