MIDEAST STOCKS-Gulf markets rebound as dovish Fed lifts oil | Reuters:
"Gulf stock markets rebounded on Thursday after a dovish statement from the U.S. Federal Reserve lifted oil prices and sparked a rally in global equities, but food maker Savola Group weighed on Saudi Arabia after a profit warning.
Oil prices jumped on Wednesday after the Federal Reserve indicated it would raise U.S. interest rates more slowly than previously thought, overshadowing data showing U.S. crude inventories at a record level. Prices pulled back slightly on Thursday but still traded well off their Wednesday lows.
Saudi Arabia's main stock index edged up 0.4 percent, as petrochemical giant Saudi Basic Industries jumped 2.0 percent after a heavy sell-off in the two previous sessions."
'via Blog this'
No comments:
Post a Comment