Sunday 8 February 2015

MIDEAST STOCKS-Gulf markets rise after oil's rally | Reuters

MIDEAST STOCKS-Gulf markets rise after oil's rally | Reuters:



"Gulf stock markets rose on Sunday after oil made further gains and local companies reported mostly upbeat earnings and other positive news.



Brent crude jumped 2.2 percent to $57.80 per barrel on Friday, posting its largest two-week gain in 17 years because of falling oil rig counts and violence in producer Libya.



Saudi Arabia's stock index rose 1.8 percent to its highest close since Nov. 24 in heavy trade. Shares in Saudi Kayan Petrochemicals Co surged their daily 10 percent limit and its bigger affiliate Saudi Basic Industries (SABIC) jumped 3.0 percent."



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