Sunday 10 May 2015

UPDATE 1-MIDEAST STOCKS-Dubai rises, other Gulf markets little moved | News by Country | Reuters

UPDATE 1-MIDEAST STOCKS-Dubai rises, other Gulf markets little moved | News by Country | Reuters:



"Most Gulf stock markets moved little in early trade on Sunday, although Dubai's bourse rose ahead of the last wave of first-quarter results.



Earlier in the day, Yemen's Houthi rebels and the group's army allies said they had accepted Saudi Arabia's proposal for a five-day truce to begin on Tuesday, which could bolster Gulf investors' hopes that a military intervention by Saudi-led ground forces will be avoided.



Developments in the oil markets were negative. Brent crude posted its first weekly loss in a month on Friday as the market fretted again about global oversupply; Brent, which hit a 2015 high just below $70 per barrel last week, closed at $65.39 on Friday."



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