Monday 7 March 2011

Gulf stock markets track Saudi gains | A1SaudiArabia.com

Gulf markets rose Sunday, with the Dubai and Kuwait benchmarks pulling away from six-year lows to track gains a day earlier on Saudi Arabias bourse.

Saudi Arabias stock benchmark Tadawul All Share Index (TASI) ended higher for a second day since tumbling to a 22-month low.

TASI traded in a 3.9 percent range, ending 0.92 percent higher at 5,762.50 points to advance for a second day since Saudis finance minister said the economy was in “”excellent”" shape and a rise in oil prices would boost its already-strong financial position, also confirming state pensions had been buying local shares.

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