FDI Picture Still Bearish For Investor Sentiment, Stocks

We remain cautious towards global markets in general, in spite of the EU bailout and yesterday's rally. Within the MENA region, we maintain our long-term preference for Egypt and Saudi stocks, with Kuwait one of the least promising markets in our view. Recent developments in the political and business environment have done little to change our mind, although converging support and trend line resistance trend lines do suggest that a break-out could be on the way for the Kuwait Stock Exchange General Index. The market is closer to support (at around 6,800) than resistance (7,500) at this stage, but

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