BRIEF-Resource Capital announces pricing of $377 mln CLO
* Resource Capital Corp announces pricing of $377 million clo backed by self-originated commercial mortgage loans
DUBAI Dec 26 Saudi Arabia's stock index may test technical resistance on Monday while other Gulf bourses look set to move sideways in trade thinned by the absence of many foreign investors for year-end holidays.
The Saudi index added 1.5 percent to 7,191 points on Sunday in reaction to Riyadh's modestly expansionary state budget for 2017. It faces technical resistance on this year's peak of 7,235 points, hit earlier this month.
Elsewhere, there is little corporate news to stimulate trading but Dubai's Shuaa Capital and Dubai-listed GFH Financial Group may attract interest after Shuaa bought 14 percent of Bahrain's Khaleeji Commercial Bank, a subsidiary of GFH, on Sunday for 9.6 million dinars ($25 million).
GFH has said it intends to list KHCB in Dubai, and Shuaa indicated on Sunday it hoped the listing would proceed. Investors may hope an alliance of the two companies will expedite the listing. (Reporting by Andrew Torchia)
* Ziplocal - Intercap has been successful in its bid to acquire Ziplocal under its previously announced offer made to shareholders of ziplocal
June 27 QBE Insurance Group said on Tuesday it was unaware of the impact of losses in the emerging markets division on overall profitability during its annual meeting in early May.