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Saudi plans to start cross-listing foreign firms

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Saudi plans to start cross-listing foreign firms

JEDDAH, Saudi Arabia - Saudi Arabia plans to start cross-listing foreign companies on its exchange within a year, with a focus on Gulf Arab firms, as it moves closer to opening up its market to foreign investors, a senior stock market offical said on Tuesday.

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markets

Gold surrenders gains

LONDON - Gold prices surrendered gains on Tuesday in line with stock markets and the euro as investors awaited a statement from Federal Reserve chairman Ben Bernanke, which will be closely watched for hints of any further economic stimulus measures.

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markets

FTSE dragged lower by miners, Bernanke eyed

LONDON - Britain’s top share index fell on Tuesday, weighed by mining stocks after Rio Tinto posted weak quarterly sales, with trade thin as traders awaited testimony from the US Federal Reserve chief for insight into its plans for extra stimulus.

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markets

Gold climbs towards $1,600/oz

LONDON - Gold prices rose towards $1,600 an ounce on Tuesday in line with the firmer euro as investors awaited a statement from Federal Reserve chair Ben Bernanke later, after soft US data fuelled talk he may hint at fresh measures to stimulate the economy.

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markets

Copper edged higher ahead of Bernanke testimony

LONDON - Copper rose on Tuesday on expectations the US Federal Reserve could signal further stimulus to prop up the flagging economy following weak economic data, but gains were capped by European debt crisis concerns and a cloudy outlook for metals demand.

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