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Gulf equity markets were mostly soft Monday after oil prices pulled back again, while Egypt rose on a fresh sign of foreign investor interest as foreign telecommunications firm Orange raised its stake in a local operator.The kingdom's telecommunications regulator slashed call termination fees by 40 percent, a move which is seen as mostly benefiting Zain Saudi, the smallest of the country's three mobile network operators, whose shares surged 6.9 percent.Abu Dhabi's index edged down 0.4 percent as Abu Dhabi National Energy Company and Dana Gas, whose profits are sensitive to oil prices, tumbled 6.4 and 4.3 percent respectively.However, Qatar Insurance Co. and Qatar Islamic Bank fell 0.9 and 2 percent as both stocks no longer carried 2014 dividends.
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