MIDEAST STOCKS-Markets may consolidate as Yemen air strikes continue

April 23, 2015 5:33 AM

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DUBAI, April 23 (Reuters) - Most Middle East stock markets look set to consolidate on Thursday as Saudi Arabian air strikes in Yemen continue and bourses in Riyadh and Dubai face major technical resistance, while some of the latest corporate earnings elsewhere in the Gulf have been weak.

The Saudi government announced late on Tuesday that it was ending a month-long offensive against the Houthis and would back a political solution in Yemen. This was modestly positive for investors unsettled by geopolitical tensions. But hours later, bombing of Yemen resumed, showing how distant a sol...

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