European stocks extend losing streak, UBS falls

Reuters: [2008-05-26 13:16:00]

By Blaise Robinson

PARIS, May 26 (Reuters) - European stocks were slightly down around midday on Monday, falling for the fourth time in five sessions as fresh asset writedown fears at UBS <UBSN.VX> knocked banking shares lower.

Crude oil prices <CLc1> holding above $130 a barrel also continued to put pressure on stocks as concerns over rising inflation persisted.

Nokia <NOK1V.HE> retreated, down nearly 2 percent on market talk that the world's largest cellphone maker may cut its handset prices by as much as 20 percent in a bid to gain a bigger slice of the market from players like Motorola <MOT.N>.

Shares in Nokia's Asian rival LG Electronics <066570.KS> tumbled more than 8 percent on the rumours.

At 1050 GMT, the FTSEurofirst 300 <.FTEU3> index of top European shares was down 0.1 percent at 1,320.83 points, after falling 3.2 percent last week.

Both UK and U.S. markets were closed on Monday for a public holiday.

"The focus remains on oil prices, with concerns arising on how a number of sectors will cope with that. We've seen a sharp correction last week on airline stocks after company outlooks, citing high oil prices, disappointed the market," said Benoit De Broissia, analyst at Richelieu Finance, in Paris.

"The pressure from rising commodity prices is now so great that it reignites fears of second-round inflation, with wage hikes," he said.

The rise in oil prices aggravated existing worries among investors over inflation and stripped more than 2 percent off Japan's Nikkei <.N225> overnight.

WRITEDOWN FEARS RETURN

Banks were the heaviest negative weight on the market, with the DJ Stoxx index of European banks <.SX7P> down 0.7 percent, led by a decline in shares of UBS <UBSN.VX>, down 3.1 percent after the Swiss lender said it continues to be exposed to U.S. mortgages in its prospectus for its upcoming $15-billion rights issue.

UBS "continues to hold positions exposed to the United States residential mortgage and may record additional losses to such exposures," the bank said.

UBS will trade ex-rights on Tuesday and some traders said this was also already weighing on the company's stock.

UBS is Europe's largest subprime casualty so far, having written down $37 billion of assets hit by the U.S. subprime lending crisis.

Its stock has lost 42 percent so far this year, while the DJ Stoxx bank index <.SX7P> has fallen 20 percent over the same period and the broad FTSEurofirst 300 has fallen 12 percent.

Banco Santander <SAN.MC> was down 1 percent, while UniCredit <CRDI.MI> fell 1.8 percent and Credit Suisse <CSGN.VX> lost 1.5 percent.

Around Europe, Frankfurt's DAX <.GDAXI> was up 0.06 percent, while Paris' CAC 40 <.FCHI> was up 0.3 percent, and the Swiss blue chip SMI index <.SSMI> was down 0.7 percent.

French utility Suez <LYOE.PA> was among the top gainers, rising 2.4 percent after the company said it was looking to sell its Belgian natural gas trading arm Distrigas <DISTy.BR>. The company said on Saturday it had entered into exclusive talks with Italy's Eni <ENI.MI>.

Eni shares were up 0.3 percent. (Editing by David Cowell) ((blaise.robinson@reuters.com ; +33 1 4949 5269, Reuters Messaging: blaise.robinson.reuters.com@reuters.net))

Keywords: MARKETS EUROPE STOCKS

Keywords: MARKETS EUROPE STOCKS

SERVICE ALERT - R3000Xtra Companion Service - PLANNED MAINTENANCE see page <ALERT69>

Reuters: [2008-05-26 12:36:00]

Please refer to Thomson Reuters page <ALERT69> for further detailed information.The index page for the Alert system can be accessed via the Thomson Reuters page <ALERT>.

This Alert has been issued by your local Customer Support Help Desk, a subsequent news headline will be issued if the status changes.

SE Asian Stocks-Fall on worries over inflation, growth

Reuters: [2008-05-26 12:32:00]

    By Tan Wei Xin 
    SINGAPORE, May 26 (Reuters) - Southeast Asian stock markets 
fell on Monday, as fears over rising regional costs hit 
financials and industrials such as Thailand's Siam Commercial 
Bank <SCB.BK> and Singapore's Keppel Corp <KPLM.SI>. 
    Thai <.SETI> stocks slid 2.15 percent after the country's 
first-quarter GDP growth was dragged down by inflation, while 
Malaysia <.KLSE> slipped 0.11 percent and Philippine shares 
<.PSI> closed 0.31 percent down. 
    Indonesia <.JKSE> was down 1.87 percent and Vietnamese <.VNI> 
shares fell 1.76 percent, while Singapore's benchmark Straits 
Times Index <.FTSTI> slipped 0.6 percent to its lowest level in 
more than five weeks. 
    "Food and energy prices are soaring, which are pushing up CPI 
inflation...this makes for a very challenging environment for 
equity markets," Macquarie analysts said in a research report, 
addiing that financial and consumer sectors would be hit hardest 
by inflation. 
    "In terms of individual markets, we think the risks are more 
than fully priced in the Philippines, broadly commensurate with 
valuations in Thailand, but not yet fully priced in in 
Indonesia." 
    In Singapore, conglomerates Keppel Corp <KPLM.SI> and 
Sembcorp Industries <SCIL.SI> led losses after falling 2 and 2.1 
percent respectively, as the country's manufacturing output fell 
at its sharpest rate since records started in 1983. 
    The trade-dependent city-state's April output slumped 16.2 
percent after seasonal adjustments from a month ago, as drugs and 
tech output fell, providing fresh signs of slowing global demand 
and raising fears over Singapore growth. [ID:nSIN181127] 
    Analysts said high prices would drag on activity in Thailand 
in coming quarters. [ID:nBKK16020] 
    Thailand's third largest lender Siam Commercial Bank fell 4.1 
percent and fourth-ranked <KBAN.BK> closed 1.7 percent lower. 
    State-controlled energy firm PTT <PTT.BK> fell 3.2 percent 
and its unit PTT Exploration and Production (PTTEP) <PTTE.BK> 
lost 3 percent, despite oil futures prices <CLc1> gaining around 
a dollar to over $133 a barrel. 
    Oil refiner PTT Aromatics and Refining <PTTAR.BK> was down 5 
percent while Thai Oil <TOP.BK> closed 7.4 percent lower after 
the Thai Energy Ministry told refiners to cut margins in a bid to 
ease the impact of rising diesel to consumers. 
    "Thai refiners could come under pressure from the combination 
of higher oil prices and government policy," UBS said in a client 
note. "We believe there is a risk that an overhang could develop 
on the (PTT) stock if oil prices keep rising." 
    Indonesia's largest coal miner Bumi Resources <BUMI.JK> fell 
6.3 percent after Merrill Lynch downgraded the firm to "sell" 
from "buy", saying the firm's shares were trading 20 percent 
above their fair value. [ID:nJAK265442] 
    Bumi raised its offer for Australian-listed Herald Resources 
<HER.AX> to A$504 million ($483.7 million), trumping a rival bid 
by a consortium formed by Indonesia's Aneka Tambang <ANTM.JK> and 
China's ShenZhen Zhongjin Lingnan Nonfemet <000060.SZ>. 
    In Malaysia, planters Sime Darby <SIME.KL> fell 0.5 percent 
while KL Kepong <KLKK.KL> ended 1.1 percent lower. Philippines' 
top telecommunications firm PLDT <TEL.PS> led losses after 
falling 1.1 percent and property firm Megaworld Corp <MEG.PS> 
closed 2.9 percent lower. 
    Malaysia's largest lender Maybank <MBBM.KL> fell 1.3  percent 
while third-largest lender Public Bank <PUBM.KL> lost 0.85 
percent. 
    Vietnam's top dairy firm Vinamilk <VNM.HM> was down 1.8 
percent and property developer Vincom <VIC.HM> ended 3.9 percent 
down. 
 (Editing by Neil Chatterjee) 
((weixin.tan@thomsonreuters.com; +65 6403 5667; Reuters 
Messaging: weixin.tan.reuters.com@reuters.net)) 
 
    For South East Asia Hot Stock reports, click; 
    [.SI] [.KL] [.BK] 
 
 FACTORS TO WATCH 
 *S'pore's April output in biggest slump since 1983 [nSIN181127] 
 *OCBC plans to sell S$1 bln in preference shares   [nSGC002015] 
 *Malaysia palm up as rising oil supports vegoils   [nKLR294814] 
 *Indonesia to offer $19 bln projects -president    [nJKB000684] 
 *Indonesia's GDP growth seen at 6.5-6.9 pct in '09 [nJKB000682] 
 *Thai Q1 growth slows, inflation risks mount        [nBKK16020] 
 *Philippine Q1 GDP to slow on weaker exports, consum[nMAN80918] 
  
    SOUTHEAST ASIAN STOCKS 
    Change on the day                                      
    Market       Current      Prev Close     Pct Move 
    Singapore    3103.30      3122.15         -0.60 
    Bangkok       856.80       875.59         -2.15 
    Manila       2840.52      2849.28         -0.31 
    Jakarta      2419.73      2465.96         -1.87 
    Kuala Lumpur 1273.37      1274.78         -0.11 
    Ho Chi Minh   420.51       428.05         -1.76 
     
    Change on year 
    Market       Current     End prev yr     Pct Move 
    Singapore    3103.30      3465.63        -10.45 
    Bangkok       856.80       858.10         -0.15 
    Manila       2840.52      3621.60        -21.57 
    Jakarta      2419.73      2745.83        -11.88 
    Kuala Lumpur 1273.37      1445.03        -11.88 
    Ho Chi Minh   420.51       927.02        -54.64 
  
     
    ASIA-PACIFIC STOCK MARKETS: 
 Pan-Asia........[STXNEWS/AS] Japan.......[.T]   S.Korea...[.KS] 
 S.E. Asia.......[.SO]        Hong Kong...[.HK]  Taiwan....[.TW] 
 Australia/NZ....[.AX]        India.......[.BO]  China.....[.SS] 
    OTHER MARKETS: 
 Wall Street ....[.N]        Gold .......[GOL/] Currency..[FRX/] 
 Eurostocks.....[.EU]         Oil ........[O/R] JP bonds...[JP/] 
 ADR Report .....[ADR/]      LME metals.[MET/L] US bonds.. [US/] 
 Stocks News US..[STXNEWS/US] Stocks News Europe    [STXNEWS/EU] 
    DIARIES & DATA: 
 IPO diary & data  <SG/IPOMENU>  Asia earnings diary [ASIA/EQTY] 
 U.S. earnings diary  [RESF/US]  European diary       [WEU/EQTY] 
 Singapore diary     [SG/DIARY]  Wall Street Week Ahead   [.N/O] 
 Eurostocks Week Ahead  [.EU/O] 
    TOP NEWS: 
    For top Asian company news, double click on:       [nTOPEQA] 
 U.S. company news    [TOP/EQU]  European company news [TOP/EQE] 
 Forex news           [TOP/FRX]  Global Economy news [TOP/MACRO] 
 Banking news         [TOP/FIN]  Tech,Media,Telecoms   [TOP/TMT] 
 Politics/General news  [TOP/G]  Asia Macro data     <ASIATODAY> 
 A multimedia version of Reuters Top News is available at: 
 http://topnews.session.rservices.com 
    LIVE PRICES & DATA: 
 World Stocks          <0#.INDEX>  Currency rates  <EFX=> <NFX=> 
 Dow Jones/NASDAQ  <.DJI> <.IXIC>  Nikkei                <.N225> 
 FTSE 100                 <.FTSE>  Debt     <0#USBMK=> <EURIBOR> 
 (Local currency)          <SGD=>  LME price overview    <RING=> 
Keywords: MARKETS SOUTHEASTASIA STOCKS/ 
    

New streets protests in Thailand hurt stability

Reuters: [2008-05-26 12:08:00]

By Nopporn Wong-Anan

BANGKOK, May 26 (Reuters) - Fresh street protests in Thailand between supporters of former Prime Minister Thaksin Shinawatra and his opponents could drag the army back into the forefront of politics and scare off foreign investors, analysts said.

Five months after a general election meant to return a deeply polarised nation back to democracy, about 5,000 opponents of the coalition government, which backs Thaksin, held a rally in the capital on Sunday.

About two dozen people were wounded in clashes between anti-Thaksin protesters and his supporters at the rally, which organisers said was a bid to stop the government from amending the 2007 army-designed constitution to benefit Thaksin.

"If it gets to be a prolonged violent confrontation in the streets that leads to loss of lives, that would be a customary pretext for a coup to restore peace," Thitinan Pongsudhirak, an analyst at Chulalongkorn University, said on Monday.

"At this rate, we may be heading in that direction," he said.

Protests against Thaksin two years ago had started small but grew to 100,000-strong crowds at their peak before the army launched a bloodless coup in September 2006. The putsch, the first in 15 years, unsettled the economy and foreign investors.

One of the reasons cited by the generals for the coup was to prevent bloodshed between rivals and supporters of Thaksin, who insist he is out of politics after returning from exile in February.

Army chief Anupong Paochinda, a 2006 coup leader who has said he will not stage another coup, warned on Monday that Thai police had to prevent the street protests from getting out of hand.

"The situation must not escalate or the country will be damaged," Anupong told reporters.

NERVOUS MARKETS

Organisers of Sunday's rally, the same group which led the street campaign against Thaksin, set up camp near Government House on Monday.

They vowed not to leave until members of the six-party ruling coalition withdrew a parliamentary motion to amend the post-coup charter, a move which would ensure that an investigative body probing alleged graft by Thaksin and his allies would continue.

Fears of renewed political strife hit investor sentiment, with Thailand's main stock index <.SETI> ending down just over 2 percent. The market was also unsettled by weak overseas bourses and high oil prices, analysts said.

"This is the instant fallout from the rally, which might put more pressure on the market in the next couple of days," Viriya Lappromrattana, an analyst at Kriatnakin Securities, said.

Bank of Thailand chief economist Amara Sripayak also warned that political roiling could hurt investor sentiment.

"It's not good that while the government is fixing the economy it has to worry about political issues. The uncertainty may prompt foreign investors to wait and see," she told reporters.

Thailand's economic growth slowed in the first quarter as inflation dragged on growth, the state planning agency said on Monday. [ID:nBKK16020].

But the agency left its full-year growth forecast unchanged at 4.5-5.5 percent, after the economy grew 4.8 percent in 2007. (Additional reporting by Panarat Thepgumpanat, Satawasin Staporncharnchai and Boontiwa Wichakul, Editing by Ed Davies and Valerie Lee) ((nopporn.wong-anan@reuters.com; +662 648 9739; Reuters Messaging:nopporn.wong-anan.reuters.com@reuters.net))

Keywords: THAILAND POLITICS/

DIARY - MidEast/African holidays to December 2008

Reuters: [2008-05-26 12:02:00]

Market holiday - Markets and exchanges closed.

Public holiday - Government offices, banks and ordinary businesses closed.

REUTERS DIARY OF MIDDLE EAST/AFRICAN HOLIDAYS

Double-click in brackets for Americas holidays [HOL1/DIARY], Asian holidays [HOL2/DIARY] and European holidays [HOL3/DIARY]

Alternatively click on <HOLIDAY> to retrieve dates by country.

** Details below represent the latest information available and will be supplemented later, particularly with updated entries for Muslim holidays.

(Note: Dates for Eid al-Fitr, Eid el-Adha, Muslim New Year and Prophet Mohammed's Birthday may differ slightly depending on the sighting of the moon)

************************************************************

2008 MARKET HOLIDAYS

************************************************************

** MORE COUNTRIES WILL BE ADDED AS AND WHEN THE DATES ARE CONFRIMED

MAY

MONDAY, MAY 12

BENIN - Whit Monday - Market Holiday

TUESDAY, MAY 20

CAMEROON - National Day - Market Holiday

WEDNESDAY, MAY 21

CAMEROON - Sheep Festival - Market Holiday

SATURDAY, MAY 24

BURUNDI - Ascension - Market Holiday

SUNDAY, MAY 25

CHAD - Market Holiday

COMOROS - Anniversary of the Organisation of the African Unity - Market Holiday

ZIMBABWE - Africa Day - Market Holiday

THURSDAY, MAY 29

COMOROS - Anniversary of the Death of President Ali Soilih - Market Holiday

NIGERIA - Democracy Day - Market Holiday

JUNE

SUNDAY, JUNE 1

KENYA - Madaraka Day - Market Holiday

MONDAY, JUNE 2

KENYA - Rollover from Madaraka Day - Market Holiday

TUESDAY, JUNE 3

BURUNDI - Pentecost - Market Holiday

SUNDAY, JUNE 8

ISRAEL - Pentecost (Shavout) Eve - Market Holiday

MONDAY, JUNE 9

ISRAEL - Pentecost (Shavout) - Market Holiday

TUESDAY, JUNE 10

CONGO REPUBLIC - Commemoration of the National Sovereign Conference - Market Holiday

MONDAY, JUNE 16

SOUTH AFRICA - Youth Day - Market Holiday

JULY

TUESDAY, JULY 1

BOTSWANA - Sir Seretse Khama Day - Market Holiday

BURUNDI - Independence Day - Market Holiday

EGYPT - Banks Holiday - Market Holiday

SUNDAY, JULY 6

COMOROS - Independence Day - Market Holiday

WEDNESDAY, JULY 23

EGYPT - Revolution Day - Market Holiday

OMAN - Renaissance Day - Market Holiday

WEDNESDAY, JULY 30

CAMEROON - Ascension on the Prophet - Market Holiday

KUWAIT - Isra Wa Miraj - Market Holiday (Subject to sighting of the moon)

UNITED ARAB EMIRATES - The Prophet's Ascension - Market Holiday (DGCX/DIFX)

AUGUST

FRIDAY, AUG 1

BENIN - Independence Day - Market Holiday

SATURDAY, AUG 9

SOUTH AFRICA - National Women's Day - Market Holiday

SUNDAY, AUG 10

ISRAEL - Tisha Be'Av - Fast Day - Market Holiday

MONDAY, AUG 11

CHAD - Market Holiday

ZIMBABWE - Heroes Day - Market Holiday

TUESDAY, AUG 12

ZIMBABWE - Force Day - Market Holiday Defence

WEDNESDAY, AUG 13

CENTRAL AFRICAN REPUBLIC - Independence Day - Market Holiday

     
    FRIDAY, AUG 15 
    BENIN -  Assumption Day - Market Holiday 
    BURUNDI - Assumption Day - Market Holiday 
    CAMEROON - Assumption - Market Holiday 
    CENTRAL AFRICAN REPUBLIC - Assumption - Market Holiday 
    CONGO REPUBLIC - National Day - Market Holiday 
    LEBANON - Assumption of the Virgin Mary - Market Holdiay 
     
    SEPTEMBER 
     
    TUESDAY, SEPT 23 
    SAUDI ARABIA - Natinal Day - Market Holiday 
     
    WEDNESDAY, SEPT 24 
    SOUTH AFRICA - Heritage Day - Market Holiday 
     
    SATURDAY, SEPT 27 
    SAUDI ARABIA - Eid Al Fitr - Market Holiday (Subject to 
sighting of the moon) 
     
    SUNDAY, SEPT 28 
    SAUDI ARABIA - Eid Al Fitr - Market Holiday (Subject to 
sighting of the moon) 
     
    MONDAY, SEPT 29 
    ISRAEL - Jewish New Year's (Rosh Hasha nah) Eve - Market 
Holiday 
    SAUDI ARABIA - Eid Al Fitr - Market Holiday (Subject to 
sighting of the moon) 
    UNITED ARAB EMIRATES - Eid al-Fitr - Market Holiday (DGCX) 
     
    TUESDAY, SEPT 30 
    ISRAEL - Jewish New Year I (Rosh Hasha nah) - Market Holiday 
    SAUDI ARABIA - Eid Al Fitr - Market Holiday (Subject to 
sighting of the moon) 
    UNITED ARAB EMIRATES - Eid al-Fitr - Market Holiday (DGCX) 
     
    OCTOBER 
     
    WEDNESDAY, OCT 1 
    BAHRAIN - Eid Al Fitr - Market Holiday (Subject to sighting 
of the moon) 
    CAMEROON - Unification Day - Market Holiday 
    EGYPT - 1st Islamic Feast - Market Holiday 
    KUWAIT - Eid Al Fitr - Market Holiday (Subject to sighting 
of the moon) 
    ISRAEL - Jewish New Year II(Rosh Hasha nah) - Market Holiday 
    LEBANON - Id Al Fitr - Market Holdiay (TENTATIVE) 
    NIGERIA - Independence day - Market Holiday 
    OMAN - Eid Al Fitr - Market Holiday (Subject to sighting of 
the moon) 
    QATAR - Eid Al Fitr - Market Holiday (Subject to sighting of 
the moon) 
    SAUDI ARABIA - Eid Al Fitr - Market Holiday (Subject to 
sighting of the moon) 
    UNITED ARAB EMIRATES - Eid al-Fitr - Market Holiday 
(DGCX/DIFX/DFM/ADSM), (Subject to sighting of the moon) 
     
    THURSDAY, OCT 2 
    BAHRAIN - Eid Al Fitr - Market Holiday (Subject to sighting 
of the moon) 
    BENIN -  Eid Al Fitr - Market Holiday 
    CAMEROON - Djoulde Soume(End of Ramadan) - Market Holiday 
    CHAD - Market Holiday 
    COMOROS - Eid al Fitr - Market Holiday 
    KUWAIT - Eid Al Fitr - Market Holiday (Subject to sighting 
of the moon) 
    LEBANON - Id Al Fitr - Market Holdiay (TENTATIVE) 
    NIGERIA - Eidel Fitri - Market Holiday (TENTATIVE) 
    OMAN - Eid Al Fitr - Market Holiday (Subject to sighting of 
the moon) 
    QATAR - Eid Al Fitr - Market Holiday (Subject to sighting of 
the moon) 
    UNITED ARAB EMIRATES - Eid al-Fitr - Market Holiday 
(DGCX/DFM/ADSM), (Subject to sighting of the moon) 
     
    MONDAY, OCT 6 
    EGYPT - Forces Day - Market Holiday 
     
    WEDNESDAY, OCT 8 
    ISRAEL - Day of Atonement (Yom Kippur) Eve - Market Holiday 
     
    THURSDAY, OCT 9 
    ISRAEL - Day of Atonement (Yom Kippur) - Market Holiday 
     
    FRIDAY, OCT 10 
    KENYA - Moi Day - Market Holiday 
     
    MONDAY, OCT 13 
    BURUNDI - Assassination of Prince Louis Rwagasore - Market 
Holiday 
    ISRAEL - Feast of Tabernacles (Sukkot) Eve - Market Holiday 
     
    TUESDAY, OCT 14 
    ISRAEL - Feast of Tabernacles (Sukkot) - Market Holiday 
     
    MONDAY, 0CT 20 
    ISRAEL - Rejoicing of the Law (Simchat Tora) Eve - Market 
Holiday 
    KENYA - Kenyatta Day / Heroes Day - Market Holiday 
     
    TUESDAY, 0CT 21 
    BURUNDI - Assassination of President Melchior Ndadaye - 
Market Holiday 
    ISRAEL - Rejoicing of the Law (Simchat Tora)  - Market 
Holiday 
     
    SUNDAY, OCT 26 
    BENIN -  Armed Forces Day - Market Holiday 
     
    NOVEMBER 
     
    SATURDAY, NOV 1 
    BENIN -  All Saints Day - Market Holiday  
    BURUNDI - All Saints Day - Market Holiday 
    CENTRAL AFRICAN REPUBLIC - All Saints Day - Market Holiday 
    CHAD - Market Holiday 
    CONGO REPUBLIC - All Saints Day - Market Holiday 
     
    SATURDAY, NOV 22 
    LEBANON - Independence Day - Market Holdiay 
     
    WEDNESDAY, NOV 26 
    COMOROS - Anniversary of the Death of President Ahmed 
Abdallah - Market Holiday 
     
    THURSDAY, NOV 27 
    UNITED ARAB EMIRATES - Thanksgiving Day - Market Holiday 
(DGCX) 
     
    FRIDAY, NOV 28 
    CHAD - Market Holiday 
    OMAN - National Day - Market Holiday (Subject to sighting of 
the moon) 
     
    SATURDAY, NOV 29 
    OMAN - National Day - Market Holiday (Subject to sighting of 
the moon) 
     
    SUNDAY, NOV 30 
    BENIN -  National Day - Market Holiday 
     
    DECEMBER 
     
    MONDAY, DEC 1 
    CENTRAL AFRICAN REPUBLIC - National Day - Market Holiday 
    CHAD - Market Holiday 
     
    SATURDAY, DEC 6 
    SAUDI ARABIA - Eid Al Adha - Market Holiday (Subject to 
sighting of the moon) 
     
    SUNDAY, DEC 7 
    EGYPT - 2nd Islamic Feast - Market Holiday 
    SAUDI ARABIA - Eid Al Adha - Market Holiday (Subject to 
sighting of the moon) 
     
    MONDAY, DEC 8 
    BAHRAIN - Eid Al Adha - Market Holiday (Subject to sighting 
of the moon) 
    COMOROS - Eid al Adha - Market Holiday 
    KUWAIT - Mount Arafat Day/Eid Al Adha - Market Holiday 
(Subject to sighting of the moon) 
    LEBANON - Id Al-Adha - Market Holdiay (TENTATIVE) 
    NIGERIA - Eidel Kabir - Market Holiday (TENTATIVE) 
    QATAR - Eid Al Adha - Market Holiday (Subject to sighting of 
the moon) 
    SAUDI ARABIA - Eid Al Adha - Market Holiday (Subject to 
sighting of the moon) 
     
    TUESDAY, DEC 9 
    BAHRAIN - Eid Al Adha - Market Holiday (Subject to sighting 
of the moon) 
    BENIN -  Tabaski - Market Holiday 
    CAMEROON - Eid Al Adha (Festival of Sacrifice) - Market 
Holiday 
    CHAD - Market Holiday 
    KUWAIT - Mount Arafat Day/Eid Al Adha - Market Holiday 
(Subject to sighting of the moon) 
    LEBANON - Id Al-Adha - Market Holdiay (TENTATIVE) 
    QATAR - Eid Al Adha - Market Holiday (Subject to sighting of 
the moon) 
    SAUDI ARABIA - Eid Al Adha - Market Holiday (Subject to 
sighting of the moon) 
     
    WEDNESDAY, DEC 10 
    SAUDI ARABIA - Eid Al Adha - Market Holiday (Subject to 
sighting of the moon) 
     
    FRIDAY, DEC 12 
    KENYA - Independence Day - Market Holiday 
     
    TUESDAY, DEC 16 
    BAHRAIN - National Day - Market Holiday 
    SOUTH AFRICA - Day of Reconciliation - Market Holiday 
     
    WEDNESDAY, DEC 17 
    BAHRAIN - National Day - Market Holiday 
     
    THURSDAY, DEC 18 
    QATAR - National Day - Market Holiday 
     
    WEDNESDAY, DEC 19 
    OMAN - Eid Al Adha - Market Holiday (Subject to sighting of 
the moon) 
     
    THURSDAY, DEC 20 
    KENYA - Idd ul Hajj - Market Holiday 
    OMAN - Eid Al Adha - Market Holiday (Subject to sighting of 
the moon) 
     
    MONDAY, DEC 22 
    ZIMBABWE - National Unity Day - Market Holiday 
     
    THURSDAY, DEC 25 
    BENIN -  Christmas Day - Market Holiday 
    BOTSWANA - Christmas Day - Market Holiday 
    BURUNDI - Christmas Day - Market Holiday 
    CAMEROON - Christmas Day - Market Holiday 
    CENTRAL AFRICAN REPUBLIC - Christmas Day - Market Holiday 
    CHAD - Market Holiday 
    COMOROS - Christmas Day - Market Holiday 
    CONGO REPUBLIC - Christmas Day - Market Holiday 
    KENYA - Christmas Day - Market Holiday 
    LEBANON - Christmas Day - Market Holdiay  
    NIGERIA - Christmas Day - Market Holiday 
    SOUTH AFRICA - Christmas Day - Market Holiday 
    ZIMBABWE - Christmas Day - Market Holiday 
     
    FRIDAY, DEC 26 
    BOTSWANA - Boxing Day - Market Holiday 
    KENYA - Boxing Day - Market Holiday 
    NIGERIA - Boxing Day - Market Holiday 
    SOUTH AFRICA - Day of Goodwill - Market Holiday 
    ZIMBABWE - Family Day - Market Holiday 
     
    MONDAY, DEC 29 
    COMOROS - Muharram (Islamic New Year) - Market Holiday 
    LEBANON - Hegria New Year - Market Holdiay (TENTATIVE) 
     
    ** For more holidays information, double click on <HOLIDAY> 
     
     
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    NOTE: The inclusion of diary items does not necessarily mean 
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