Egypt.com – Gulf Markets Mostly Down, Egypt Up Despite Clashes – 8 October 2013

Egypt.com

Gulf markets mostly edged down on Monday as investors took profits ahead of long Eid holidays and the U.S. government moved into the second week of its shutdown.

Egyptian market rose despite at least 53 deaths in Sundays political violence.

The Gulf will be closed for most of next week – the time when the U.S. government and Congress must agree on raising the countrys debt ceiling to avoid a default.

Although most Gulf investors expect a positive resolution to the U.S. crisis, they will be unable to react to any bad news during the holidays.

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