Appearances of a lazy summer month with underlying continued positive sentiment played out in the Middle East and North Africa during the 32nd week of the year, the first full week of trading after the end of Ramadan and Eid al-Fitr. The Saudi and the Egyptian bourses each pushed higher quite nicely, based on future-minded political decisions. Both benchmark indices in the United Arab Emirates fell, but did so with moderation when compared with the wilder fluctuations of June and July. Apart from the UAE, the Gulf Cooperation Council bourses all achieved gains, juxtaposed in a minor way with small drops in the Levant and a mixed picture in the smaller North African markets. On weekly terms, seven benchmark indices moved up and five dropped. Overall, relaxed volumes around the region conveyed the impression that many market participants have opted to take a break from arduous tasks such as poring
