Tuesday 7 July 2015

MIDEAST STOCKS-Gulf markets mixed despite oil's plunge | Agricultural Commodities | Reuters

MIDEAST STOCKS-Gulf markets mixed despite oil's plunge | Agricultural Commodities | Reuters:



"Gulf stock markets were mixed within a narrow range in early trade on Tuesday as local retail investors continued to buy on dips, despite a fresh plunge of oil prices.



Brent crude dived more than 6 percent on Monday to around $56 a barrel, pressured by the Greek debt crisis and volatility in China's stock markets, before recovering to around $57 on Tuesday.



The latest slide is so steep it may call into question investors' hopes for a gradual recovery of crude prices later this year, and raise the possibility of Gulf governments adopting additional spending restraints."



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