Thursday 23 April 2015

MIDEAST STOCKS-Gulf mixed; Emaar, FGB weigh on UAE markets | Reuters

MIDEAST STOCKS-Gulf mixed; Emaar, FGB weigh on UAE markets | Reuters:



"Gulf stock markets were narrowly mixed on Thursday while Egypt extended its recovery after a fresh cash injection from the oil-rich Gulf states.



Brent crude oil rose above $63 a barrel on Thursday as Saudi-led air strikes in Yemen continued despite an earlier announcement by Riyadh that the campaign was ending. Geopolitical tensions are a modest negative for many retail investors in the Gulf, but stronger oil is widely seen as positive.



Saudi Arabia's stock index edged up 0.4 percent thanks to petrochemicals. Saudi International Petrochemical Co (Sipchem) surged 4.8 percent and was the main support. The firm said this week that it had finished testing a new plastics plant owned by an affiliate.."



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